At $2,445/mo, rent takes about 20% of the local median household income, comfortably within the 30% benchmark.
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 $2,445 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
Rent in Iowa Colony changed -0.1% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
Rent rose in 5 of the last 12 months.
30% of the median household income ($144,092) is $3,602 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,010).
Manvel, 10 miles away, rents for 17% less ($2,018/mo), about $5,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Iowa Colony. 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
Iowa Colony, TX is majority owner-occupied, has a large share of families with children, has a median income above the national average, 49.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Iowa Colony, TX has changed in 5 years
Median household income climbed from $93,732 to $144,092 between 2021 and 2024, a 53.7% shift. Census counts show Iowa Colony, TX adding about 4,704 residents over the five-year window, up 57.5% on net. Bachelor's-degree-or-higher attainment moved from 40.1% to 49.3% across the same window.
Discussions about Iowa Colony
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Can you afford rent in Iowa Colony on your salary?
At $2,445/mo, how Iowa Colony rent compares to typical pay (30% rule).
Iowa Colony rent by bedroom count
Median rent for each apartment size in Iowa Colony. Click any size for full breakdown.
Tips for renters in Iowa Colony
Last updated: October 17, 2026
The median rent in Iowa Colony is $2,445/mo as of October 2026. A studio apartment averages $910/mo while a 2-bedroom runs $1,200/mo. One-bedroom apartments average $1,070/mo and 3-bedroom units go for $1,600/mo.
At 20% of local median household income ($144,092/yr), Iowa Colony ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.1% over the past year.
Frequently asked questions
How much income do you need to rent in Iowa Colony?
Is rent going up or down in Iowa Colony?
How does Iowa Colony rent compare to other cities in Texas?
Which nearby cities are cheaper to rent in than Iowa Colony?
At $2,445/mo, rent takes ~20% of Iowa Colony's median household income ($144,092/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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