FY2027 Small Area FMR · Evansdale, IA

ZIP 50707 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50707 (Evansdale, IA) is $1,050 a month, up 5.0% from FY2026. That is 4% below the Waterloo-Cedar Falls, IA area-wide FMR of $1,096.

2-bedroom SAFMR$1,050per month ▲ 5.0%

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

Rank in the area9thof 37 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$945

2 BR Small Area FMR$1,050

110% of SAFMR$1,155

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

Studio$730▲ 5.8%

1 BR$800▲ 5.3%

2 BR$1,050▲ 5.0%

3 BR$1,340▲ 3.9%

4 BR$1,760▲ 4.8%

FY2027 FY2026

Where 50707 sits in the Waterloo-Cedar Falls, IA area

Of the 37 ZIP codes HUD lists for the area, 50707 has the 9th 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 $1,050 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	$730	$657 – $803	$763	$690
1 bedroom	$800	$720 – $880	$838	$760
2 bedrooms	$1,050	$945 – $1,155	$1,096	$1,000
3 bedrooms	$1,340	$1,206 – $1,474	$1,401	$1,290
4 bedrooms	$1,760	$1,584 – $1,936	$1,832	$1,680

A household renting a two-bedroom home at the Small Area FMR of $1,050 needs about $42,000 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 50707 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
50667	Raymond	1.9 mi	$1,050
50702	Waterloo	2.7 mi	$1,140
50634	Gilbertville	3.6 mi	$950
50701	Waterloo	4.9 mi	$1,030
50623	Dewar	5.0 mi	$1,010
50703	Waterloo	6.4 mi	$1,080

Questions

What is the Fair Market Rent for ZIP code 50707?

HUD's FY2027 Small Area Fair Market Rents for 50707 are $730 (studio), $800 (1 BR), $1,050 (2 BR), $1,340 (3 BR) and $1,760 (4 BR) a month.

What is the Section 8 payment standard in 50707?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50707 that range is $945 to $1,155 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 50707?

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.