Rents are right about where Cedar Falls's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,405 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
August. Asking rents in Cedar Falls usually run 1% below trend in August and 1.3% above it in November, about $32 a month apart at today's median. Based on 10 years of data.
Rent in Cedar Falls is at its highest level since Zillow's records here began in July 2016.
Rent in Cedar Falls changed +4.6% over the year to September 2026. Across the 26 Iowa cities Zillow tracks, the typical change was +4.5%.
From 2019 to 2024, rent in Cedar Falls rose 22.3% while median household income rose 25.3% ($61,420 to $76,987). Income kept ahead of rent.
Rent in Cedar Falls is 30.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($76,987) is $1,925 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,880).
Waterloo, 10 miles away, rents for 35% less ($909/mo), about $6,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Cedar Falls. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Cedar Falls, IA is majority owner-occupied, skews toward younger working-age adults, 50.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Cedar Falls, IA has changed in 5 years
Across the past five years, the going rent in Cedar Falls, IA has shifted from $1,121 to $1,405, up 25.3% since 2021. Local incomes tracked alongside that move, going from a median of $66,838 in 2021 to $76,987 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Cedar Falls, IA adding about 388 residents over the five-year window, up 1.0% on net. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Cedar Falls, IA market of 2021.
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At $1,405/mo, how Cedar Falls rent compares to typical pay (30% rule).
Cedar Falls rent by bedroom count
Median rent for each apartment size in Cedar Falls. Click any size for full breakdown.
Tips for renters in Cedar Falls
Last updated: October 17, 2026
The median rent in Cedar Falls is $1,405/mo as of October 2026. A studio apartment averages $770/mo while a 2-bedroom runs $1,120/mo. One-bedroom apartments average $850/mo and 3-bedroom units go for $1,460/mo.
At 22% of local median household income ($76,987/yr), Cedar Falls ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.6% over the past year.
Frequently asked questions
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At $1,405/mo, rent takes ~22% of Cedar Falls's median household income ($76,987/yr). The standard benchmark is 30%.
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