Iowa · FIPS 19041 · HUD FY 2027
Clay County, Iowa Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Clay County is $927 a month (rent plus utilities), 17% below the Iowa average of $1,113 and 47% below the U.S. average of $1,761. That is up $8 (0.9%) from FY 2026. At 30% of income, a household needs about $37,080 a year to afford it.
- $9272-bedroom FMR+$8 (+0.9%) vs FY 2026
- $7091-bedroom FMRIowa: $902 · U.S.: $1,478
- $37,080Income for a 2-bedroom$18/hour full-time
- 50 of 992BR rank in Iowa1 = highest rent
| Unit | Clay County FY 2027 | FY 2026 | Change | Iowa avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $688 | $682 | +$6 (+0.9%) | $846 | $1,379 | $27,520 |
| 1 bedroom | $709 | $700 | +$9 (+1.3%) | $902 | $1,478 | $28,360 |
| 2 bedrooms | $927 | $919 | +$8 (+0.9%) | $1,113 | $1,761 | $37,080 |
| 3 bedrooms | $1,214 | $1,198 | +$16 (+1.3%) | $1,475 | $2,266 | $48,560 |
| 4 bedrooms | $1,218 | $1,217 | +$1 (+0.1%) | $1,649 | $2,607 | $48,720 |
How Clay County compares
- Clay County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Iowa, 2-bedroom FMRs run from $927 (Worth County) to $1,450 (Harrison County).
- Studio to 4-bedroom: $688, $709, $927, $1,214, $1,218. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 10 ZIP codes mostly in Clay County (by land area), the 2-bedroom figure ranges from $930 to $1,520.
Small Area FMRs by ZIP code in Clay County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 51033 | $1,150 | $1,160 | $1,520 | $1,910 | $2,000 | +$240 (+18.8%) | 64% above |
| 51047 | $780 | $810 | $1,040 | $1,360 | $1,390 | −$30 (−2.8%) | 12% above |
| 51301 | $750 | $750 | $990 | $1,210 | $1,310 | +$30 (+3.1%) | 7% above |
| 51333 | $880 | $900 | $1,180 | $1,540 | $1,550 | +$40 (+3.5%) | 27% above |
| 51338 | $750 | $750 | $990 | $1,210 | $1,310 | +$30 (+3.1%) | 7% above |
| 51340 | $690 | $710 | $930 | $1,210 | $1,220 | +$10 (+1.1%) | about the same as |
| 51341 | $770 | $790 | $1,030 | $1,340 | $1,360 | −$110 (−9.6%) | 11% above |
| 51343 | $740 | $760 | $1,000 | $1,290 | $1,310 | −$20 (−2.0%) | 8% above |
| 51357 | $770 | $800 | $1,040 | $1,360 | $1,370 | +$30 (+3.0%) | 12% above |
| 51366 | $830 | $840 | $1,110 | $1,430 | $1,460 | −$20 (−1.8%) | 20% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.