FY2026 Fair Market Rents — Franklin County
Studio
$682
1BR
$700
2BR
$919
3BR
$1,168
4BR
$1,542
Franklin County, Iowa
FIPS 19069 · County-level FMR and income limit data
FMR Area: Franklin County, IA
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $682 | $8,184 |
| 1-Bedroom | $700 | $8,400 |
| 2-Bedroom | $919 | $11,028 |
| 3-Bedroom | $1,168 | $14,016 |
| 4-Bedroom | $1,542 | $18,504 |
To afford the FY2026 2-bedroom FMR of $919/mo under the 30%-of-income rule, a household needs about
$36,760/yr ($3,063/mo). Area Median Income is $87,400.
At IA's federal minimum wage of $7.25/hr, a worker would need to work 98 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $682 | $700 | $919 | $1,168 | $1,542 |
| FY2025 | $646 | $668 | $877 | $1,158 | $1,450 |
| FY2024 | $630 | $656 | $862 | $1,159 | $1,271 |
| FY2023 | $581 | $604 | $795 | $1,092 | $1,109 |
| FY2022 | $534 | $562 | $739 | $998 | $1,002 |
| FY2021 | $519 | $543 | $715 | $966 | $970 |
| FY2020 | $497 | $522 | $687 | $927 | $931 |
FY2026 Income Limits
Area Median Income: $87,400
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $19,800 | $22,600 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $32,950 | $37,650 | $42,350 | $47,050 | $50,850 | $54,600 |
| 80% AMI | $52,750 | $60,250 | $67,800 | $75,300 | $81,350 | $87,350 |