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Black Hawk County/Waterloo/50701

50701

ZIPSAFMR
Black Hawk County, IA
Zillow

ZIP Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$720$770
1 BR$790$860
2 BR$1,030$1,070
3 BR$1,320$1,420
4 BR$1,720$1,650
5 BR$1,978Not available
6 BR$2,275Not available
7 BR$2,616Not available
8 BR$3,008Not available

Purchase Price Calculator

Maximum purchase price
$97,085

Cost breakdown

+Likely effective rent$1,070
HUD FMR$1,030
Market rent$1,090
Est. payment standard (104%)Used$1,070
-Principal and interest-$491
Loan amount$77,668
Down payment$19,417
Rate6.50%
Term30 years
-Operating costs-$379
Property taxes-$97
Insurance-$175
Utilities$0
HOA$0
Management-$107
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,448(89.9% ROI)
Projected value
$104,550
Return breakdown
Property appreciation+$7,465
Loan principal paid down+$2,783
Rental cash flow+$7,200
5-year hold
+$29,720(153.1% ROI)
Projected value
$109,843
Return breakdown
Property appreciation+$12,758
Loan principal paid down+$4,962
Rental cash flow+$12,000
10-year hold
+$63,016(324.5% ROI)
Projected value
$124,277
Return breakdown
Property appreciation+$27,192
Loan principal paid down+$11,824
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.91
1 BR
0.89
2 BR
0.94
3 BR
0.90
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 50701 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50701 (Waterloo, IA) is $1,030 a month. That is up 5.1% from $980 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. Among 20 ZIP codes in Black Hawk County, 50701 is tied for the 9th-highest two-bedroom rent (county range $950–$1,310). The median county two-bedroom FMR in Iowa is $927, so ZIP 50701 is 11% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50701
BedroomsFY 2027Change90–110% range
Studio$720+5.9%$648–$792
1BR$790+5.3%$711–$869
2BR$1,030+5.1%$927–$1,133
3BR$1,320+3.9%$1,188–$1,452
4BR$1,720+4.9%$1,548–$1,892

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50701
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$720$790$1,030$1,320$1,720
FY 2026$680$750$980$1,270$1,640
FY 2025$630$700$920$1,200$1,540
FY 2024$620$720$920$1,220$1,560
FY 2023$630$740$930$1,240$1,580

Two-bedroom rent in nearby Black Hawk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50701
50647$1,150+11.7%
50648$1,000−2.9%
50651$1,020−1.0%
50667$1,050+1.9%
50668$950−7.8%
50669$950−7.8%
50675$990−3.9%
50701Current$1,030—
50702$1,140+10.7%
50703$1,080+4.9%
50704$1,110+7.8%
50707$1,050+1.9%

Questions about ZIP 50701 rents

How much will Section 8 pay for a two-bedroom in ZIP 50701?

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 $1,030 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 ZIP 50701 in?

ZIP 50701 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 ZIP 50701 for FY 2027?

The two-bedroom FMR rose 5.1%, from $980 in FY 2026 to $1,030 in FY 2027. Since FY 2023 it has risen 10.8%.

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 rentWaterloo, IA fair market rentIA statewide rentsWhat is SAFMR?Data sources