FY2026 Fair Market Rents — Ames, IA MSA
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$972
1BR
$1,026
2BR
$1,153
3BR
$1,601
4BR
$1,934
Hours/week at min wage
123 hrs
to afford the 2BR FMR @ $7.25/hr (federal)
YoY change (2BR)
+9.2%
+$97 vs FY2025 · 5-yr +27.7%
Voucher payment standard
$1,038–$1,268
PHAs set HCV payment at 90–110% of the 2BR FMR
Ames, IA MSA
Non-Metropolitan area · IA · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $972 | $11,664 |
| 1-Bedroom | $1,026 | $12,312 |
| 2-Bedroom | $1,153 | $13,836 |
| 3-Bedroom | $1,601 | $19,212 |
| 4-Bedroom | $1,934 | $23,208 |
Recent 2-Bedroom FMR Trend
FY2020 $857 → FY2026 $1,153
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $972 | $1,026 | $1,153 | $1,601 | $1,934 |
| FY2025 | $875 | $951 | $1,056 | $1,476 | $1,773 |
| FY2024 | $847 | $918 | $1,033 | $1,456 | $1,753 |
| FY2023 | $800 | $862 | $981 | $1,394 | $1,671 |
| FY2022 | $787 | $798 | $943 | $1,340 | $1,581 |
| FY2021 | $749 | $752 | $903 | $1,282 | $1,481 |
| FY2020 | $684 | $706 | $857 | $1,191 | $1,417 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $122,400
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $25,700 | $29,400 | $33,050 | $36,700 | $39,650 | $44,360 |
| 50% AMI (Very Low) | $42,850 | $49,000 | $55,100 | $61,200 | $66,100 | $71,000 |
| 80% AMI (Low) | $68,550 | $78,350 | $88,150 | $97,900 | $105,750 | $113,600 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$13,836/yr
FMR as % of Area Median Income
11.3% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$46,120/yr
$3,843/mo gross income
FY2026 LIHTC Maximum Rents
Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →
| AMI Band | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| 50% AMI Maximum | $1,071 | $1,224 | $1,377 | $1,652 | $1,774 |
| 60% AMI Maximum | $1,285 | $1,468 | $1,652 | $1,982 | $2,129 |
FY2026 HOME Program Rent Limits
Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $972 | $1,026 | $1,153 | $1,601 | $1,934 |
| Low HOME Rent | $1,071 | $1,225 | $1,377 | $1,530 | $1,652 |
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