FMR is near market; voucher and private rents are aligned.
1.00
1 BR
1 BR
0.93ratio
FMR$740
Market$800
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR
0.89ratio
FMR$970
Market$1,090
vs market-$120
FMR is below market; voucher rent may lag private rents.
0.89
3 BR
3 BR
0.88ratio
FMR$1,350
Market$1,530
vs market-$180
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR
0.83ratio
FMR$1,620
Market$1,950
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.83
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
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ZIP 52344 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 52344 (Troy Mills, IA) is $970 a month. That is up 5.4% from $920 in FY 2026. Troy Mills is in the Cedar Rapids, 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 $1,054. Among 35 ZIP codes in Linn County, 52344 is tied for the 29th-highest two-bedroom rent (county range $970–$1,580). The median county two-bedroom FMR in Iowa is $927, so ZIP 52344 is 5% above it.
How much will Section 8 pay for a two-bedroom in ZIP 52344?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,054, which applies unless the housing authority uses Small Area FMRs, that basic range is $949 to $1,159 a month; under the ZIP-level Small Area FMR of $970 it would be $873 to $1,067. 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 52344 in?
ZIP 52344 is in the Cedar Rapids, IA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,054.
How much did fair market rent change in ZIP 52344 for FY 2027?
The two-bedroom FMR rose 5.4%, from $920 in FY 2026 to $970 in FY 2027. Since FY 2023 it has risen 5.4%.
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