FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR- 50588
0.92ratio
FMR$790
Market$860
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.92
2 BR
2 BR- 50588
1.04ratio
FMR$1,030
Market$990
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.04
3 BR
3 BR- 50588
0.95ratio
FMR$1,280
Market$1,350
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.95
4 BR
4 BR- 50588
0.95ratio
FMR$1,350
Market$1,420
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.95
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Storm Lake, IA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Storm Lake, IA is $1,030 a month. That is up 2.0% from $1,010 in FY 2026. Storm Lake is in the Buena Vista County, IA non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,031. The median county two-bedroom FMR in Iowa is $927, so Storm Lake is 11% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Storm Lake, IA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$770
$780
+1.3%
$702–$858
1BR
$770
$790
+2.6%
$711–$869
2BR
$1,010
$1,030
+2.0%
$927–$1,133
3BR
$1,240
$1,280
+3.2%
$1,152–$1,408
4BR
$1,340
$1,350
+0.7%
$1,215–$1,485
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Storm Lake, IA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$780
$790
$1,030
$1,280
$1,350
FY 2026
$770
$770
$1,010
$1,240
$1,340
FY 2025
$720
$730
$950
$1,170
$1,260
FY 2024area FMR
$688
$693
$910
$1,171
$1,212
FY 2023area FMR
$595
$628
$814
$1,083
$1,107
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Storm Lake, IA rents
How much will Section 8 pay for a two-bedroom in Storm Lake, IA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,031, which applies unless the housing authority uses Small Area FMRs, that basic range is $928 to $1,134 a month; under the ZIP-level Small Area FMR of $1,030 it would be $927 to $1,133. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Storm Lake, IA in?
Storm Lake, IA is in the Buena Vista County, IA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,031.
How much did fair market rent change in Storm Lake, IA for FY 2027?
The two-bedroom FMR rose 2.0%, from $1,010 in FY 2026 to $1,030 in FY 2027. Since FY 2025 it has risen 8.4%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set