FY2026 Fair Market Rents — Boone County
Studio
$783
1BR
$788
2BR
$1,026
3BR
$1,427
4BR
$1,500
Boone County, Iowa
FIPS 19015 · County-level FMR and income limit data
FMR Area: Boone County, IA HUD Metro FMR Area
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $783 | $9,396 |
| 1-Bedroom | $788 | $9,456 |
| 2-Bedroom | $1,026 | $12,312 |
| 3-Bedroom | $1,427 | $17,124 |
| 4-Bedroom | $1,500 | $18,000 |
To afford the FY2026 2-bedroom FMR of $1,026/mo under the 30%-of-income rule, a household needs about
$41,040/yr ($3,420/mo). Area Median Income is $112,300.
At IA's federal minimum wage of $7.25/hr, a worker would need to work 109 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $783 | $788 | $1,026 | $1,427 | $1,500 |
| FY2025 | $714 | $719 | $930 | $1,303 | $1,315 |
| FY2024 | $614 | $685 | $900 | $1,268 | $1,348 |
| FY2023 | $602 | $671 | $883 | $1,246 | $1,379 |
| FY2022 | $616 | $620 | $810 | $1,069 | $1,344 |
FY2026 Income Limits
Area Median Income: $112,300
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $23,600 | $27,000 | $30,350 | $33,700 | $38,680 | $44,360 |
| 50% AMI | $39,350 | $44,950 | $50,550 | $56,150 | $60,650 | $65,150 |
| 80% AMI | $62,900 | $71,900 | $80,900 | $89,850 | $97,050 | $104,250 |