FY2027 Small Area FMR · Dewar, IA

ZIP 50623 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50623 (Dewar, IA) is $1,010 a month, up 1.0% from FY2026. That is 8% below the Waterloo-Cedar Falls, IA area-wide FMR of $1,096.

2-bedroom SAFMR$1,010per month ▲ 1.0%

Area-wide 2 BR FMR$1,096Waterloo-Cedar Falls, IA

Rank in the area15thof 37 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$700▲ 2.9%

1 BR$780▲ 2.6%

2 BR$1,010▲ 1.0%

3 BR$1,290■ 0.0%

4 BR$1,690▲ 1.2%

FY2027 FY2026

Where 50623 sits in the Waterloo-Cedar Falls, IA area

Of the 37 ZIP codes HUD lists for the area, 50623 has the 15th 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 $1,010 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$700	$630 – $770	$763	$680
1 bedroom	$780	$702 – $858	$838	$760
2 bedrooms	$1,010	$909 – $1,111	$1,096	$1,000
3 bedrooms	$1,290	$1,161 – $1,419	$1,401	$1,290
4 bedrooms	$1,690	$1,521 – $1,859	$1,832	$1,670

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 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 50623 lies mainly in Black Hawk County. See the Waterloo-Cedar Falls, IA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
50703	Waterloo	3.7 mi	$1,080
50667	Raymond	3.8 mi	$1,050
50626	Dunkerton	4.8 mi	$950
50707	Evansdale	5.0 mi	$1,050
50702	Waterloo	6.5 mi	$1,140
50634	Gilbertville	7.4 mi	$950

Questions

What is the Fair Market Rent for ZIP code 50623?

HUD's FY2027 Small Area Fair Market Rents for 50623 are $700 (studio), $780 (1 BR), $1,010 (2 BR), $1,290 (3 BR) and $1,690 (4 BR) a month.

What is the Section 8 payment standard in 50623?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50623 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 50623?

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.