FY2027 Small Area FMR · Wallingford, IA

ZIP 51365 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 51365 (Wallingford, IA) is $930 a month, up 1.1% from FY2026. That is 0% equal to the Emmet County, IA area-wide FMR of $927.

2-bedroom SAFMR$930per month ▲ 1.1%

Area-wide 2 BR FMR$927Emmet County, IA

Rank in the area4thof 8 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$837

2 BR Small Area FMR$930

110% of SAFMR$1,023

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

Studio$690▲ 1.5%

1 BR$750▼ 2.6%

2 BR$930▲ 1.1%

3 BR$1,250▲ 2.5%

4 BR$1,260▲ 2.4%

FY2027 FY2026

Where 51365 sits in the Emmet County, IA area

Of the 8 ZIP codes HUD lists for the area, 51365 has the 4th highest two-bedroom Small Area FMR. Emmet County, 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 $927 for two bedrooms; an agency that opts in to Small Area FMRs would use $930 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	$690	$621 – $759	$688	$680
1 bedroom	$750	$675 – $825	$778	$770
2 bedrooms	$930	$837 – $1,023	$927	$920
3 bedrooms	$1,250	$1,125 – $1,375	$1,247	$1,220
4 bedrooms	$1,260	$1,134 – $1,386	$1,251	$1,230

A household renting a two-bedroom home at the Small Area FMR of $930 needs about $37,200 a year to keep housing costs at 30% of income. The area median family income is $87,600 and the 80% low-income limit for four people is $75,300. ZIP code 51365 lies mainly in Emmet County. See the Emmet County, IA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
51342	Graettinger	4.3 mi	$930
51334	Estherville	7.4 mi	$990
50578	Ringsted	9.2 mi	$930
51364	Terril	11.7 mi	$1,070
50531	Dolliver	11.7 mi	$940
50536	Emmetsburg	13.3 mi	$950

Questions

What is the Fair Market Rent for ZIP code 51365?

HUD's FY2027 Small Area Fair Market Rents for 51365 are $690 (studio), $750 (1 BR), $930 (2 BR), $1,250 (3 BR) and $1,260 (4 BR) a month.

What is the Section 8 payment standard in 51365?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 51365 that range is $837 to $1,023 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 51365?

The FY2026 income limits of the Emmet County, IA area apply: median family income $87,600, low-income (80%) limit $75,300 for a family of four.