FY2026 Fair Market Rents — Pennington County, MN
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$774
1BR
$855
2BR
$1,122
3BR
$1,496
4BR
$1,631
Hours/week at min wage
78 hrs
to afford the 2BR FMR @ $11.13/hr (MN)
YoY change (2BR)
+3.9%
+$42 vs FY2025 · 5-yr +52.9%
Voucher payment standard
$1,010–$1,234
PHAs set HCV payment at 90–110% of the 2BR FMR
Pennington County, MN
Non-Metropolitan area · MN · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $774 | $9,288 |
| 1-Bedroom | $855 | $10,260 |
| 2-Bedroom | $1,122 | $13,464 |
| 3-Bedroom | $1,496 | $17,952 |
| 4-Bedroom | $1,631 | $19,572 |
Recent 2-Bedroom FMR Trend
FY2020 $760 → FY2026 $1,122
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $774 | $855 | $1,122 | $1,496 | $1,631 |
| FY2025 | $741 | $823 | $1,080 | $1,371 | $1,559 |
| FY2024 | $746 | $837 | $1,100 | $1,399 | $1,590 |
| FY2023 | $629 | $714 | $940 | $1,208 | $1,368 |
| FY2022 | $543 | $621 | $817 | $1,047 | $1,188 |
| FY2021 | $484 | $557 | $734 | $913 | $1,062 |
| FY2020 | $495 | $577 | $760 | $947 | $1,030 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $111,300
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $23,400 | $26,750 | $30,100 | $33,400 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $39,000 | $44,550 | $50,100 | $55,650 | $60,150 | $64,600 |
| 80% AMI (Low) | $62,350 | $71,250 | $80,150 | $89,050 | $96,200 | $103,300 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$13,464/yr
FMR as % of Area Median Income
12.1% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$44,880/yr
$3,740/mo gross income
FY2026 LIHTC Maximum Rents
Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →
| AMI Band | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| 50% AMI Maximum | $973 | $1,113 | $1,252 | $1,502 | $1,613 |
| 60% AMI Maximum | $1,168 | $1,335 | $1,502 | $1,803 | $1,936 |
FY2026 HOME Program Rent Limits
Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $774 | $855 | $1,122 | $1,496 | $1,631 |
| Low HOME Rent | $975 | $1,113 | $1,252 | $1,391 | $1,503 |
Compare Pennington County, MN With Other MN Metros
vs. Duluth, MN-WI MSA
vs. Fargo, ND-MN MSA
vs. Fillmore County, MN HUD Metro FMR Area
vs. Grand Forks, ND-MN MSA
vs. La Crosse-Onalaska, WI-MN MSA