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IA/Black Hawk County/Waterloo

Waterloo, IA

CitySAFMR
Black Hawk County
Found 4 ZIPs
Zillow

City Median Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$720 – $790$680 – $770
1 BR$790 – $870$730 – $860
2 BR$1,030 – $1,140$850 – $1,070
3 BR$1,320 – $1,460$1,000 – $1,420
4 BR$1,720 – $1,910$1,090 – $1,650
5 BR$2,110Not available
6 BR$2,427Not available
7 BR$2,791Not available
8 BR$3,209Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
2
0.91-1.16
1 BR
2
0.89-1.14
2 BR
1
1
1
1
0.94-1.27
3 BR
1
1
1
1
0.90-1.38
4 BR
2
1.04-1.66
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Waterloo, IA fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 4 ZIP codes in Waterloo, IA ranges from $1,030 to $1,140 a month, with a median of $1,095. That is up 3.3% from $1,060 in FY 2026. Waterloo is in the Waterloo-Cedar Falls, IA HUD Metro 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 metro-wide two-bedroom FMR of $1,096. The median county two-bedroom FMR in Iowa is $927, so Waterloo is 18% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Waterloo, IA
BedroomsFY 2027Change90–110% range
Studio$760+4.1%$684–$836
1BR$840+3.7%$756–$924
2BR$1,095+3.3%$986–$1,205
3BR$1,400+2.2%$1,260–$1,540
4BR$1,835+3.1%$1,652–$2,019

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Waterloo, IA
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$760$840$1,095$1,400$1,835
FY 2026$730$810$1,060$1,370$1,780
FY 2025$680$755$990$1,295$1,665
FY 2024$640$735$945$1,250$1,605
FY 2023$630$740$930$1,240$1,580

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
50702$1,140+4.1%
50704$1,110+1.4%
50703$1,080−1.4%
50701$1,030−5.9%

Questions about Waterloo, IA rents

How much will Section 8 pay for a two-bedroom in Waterloo, IA?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,096, which applies unless the housing authority uses Small Area FMRs, that basic range is $986 to $1,206 a month; under the ZIP-level Small Area FMR of $1,095 it would be $986 to $1,205. 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 Waterloo, IA in?

Waterloo, IA is in the Waterloo-Cedar Falls, IA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,096.

How much did fair market rent change in Waterloo, IA for FY 2027?

The two-bedroom FMR rose 3.3%, from $1,060 in FY 2026 to $1,095 in FY 2027. Since FY 2023 it has risen 17.7%.

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

County fair market rentIA statewide rentsWhat is SAFMR?Data sources