FY2027 Small Area FMR · Conrad, IA
ZIP 50621 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50621 (Conrad, IA) is $950 a month, up 2.2% from FY2026. That is 13% below the Waterloo-Cedar Falls, IA area-wide FMR of $1,096.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 50621 sits in the Waterloo-Cedar Falls, IA area
Of the 37 ZIP codes HUD lists for the area, 50621 has the 20th highest two-bedroom Small Area FMR. Waterloo-Cedar Falls, IA is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,096 for two bedrooms; an agency that opts in to Small Area FMRs would use $950 for this ZIP code instead.
ZIP code 50621 crosses more than one HUD area. HUD also lists it under Marshall County, IA (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $660 | $594 – $726 | $763 | $640 |
| 1 bedroom | $730 | $657 – $803 | $838 | $710 |
| 2 bedrooms | $950 | $855 – $1,045 | $1,096 | $930 |
| 3 bedrooms | $1,230 | $1,107 – $1,353 | $1,401 | $1,200 |
| 4 bedrooms | $1,590 | $1,431 – $1,749 | $1,832 | $1,540 |
A household renting a two-bedroom home at the Small Area FMR of $950 needs about $38,000 a year to keep housing costs at 30% of income. The area median family income is $91,000 and the 80% low-income limit for four people is $75,300. ZIP code 50621 lies mainly in Grundy County and Marshall County. See the Waterloo-Cedar Falls, IA metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 50621?
HUD's FY2027 Small Area Fair Market Rents for 50621 are $660 (studio), $730 (1 BR), $950 (2 BR), $1,230 (3 BR) and $1,590 (4 BR) a month.
What is the Section 8 payment standard in 50621?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50621 that range is $855 to $1,045 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 50621?
The FY2026 income limits of the Waterloo-Cedar Falls, IA area apply: median family income $91,000, low-income (80%) limit $75,300 for a family of four.