FY2026 Fair Market Rents — Steele County, MN
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$787
1BR
$870
2BR
$1,142
3BR
$1,549
4BR
$1,816
Hours/week at min wage
79 hrs
to afford the 2BR FMR @ $11.13/hr (MN)
YoY change (2BR)
+11.4%
+$117 vs FY2025 · 5-yr +49.5%
Voucher payment standard
$1,028–$1,256
PHAs set HCV payment at 90–110% of the 2BR FMR
Steele 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) | $787 | $9,444 |
| 1-Bedroom | $870 | $10,440 |
| 2-Bedroom | $1,142 | $13,704 |
| 3-Bedroom | $1,549 | $18,588 |
| 4-Bedroom | $1,816 | $21,792 |
Recent 2-Bedroom FMR Trend
FY2020 $833 → FY2026 $1,142
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $787 | $870 | $1,142 | $1,549 | $1,816 |
| FY2025 | $728 | $784 | $1,025 | $1,436 | $1,721 |
| FY2024 | $808 | $814 | $1,061 | $1,495 | $1,801 |
| FY2023 | $666 | $726 | $939 | $1,334 | $1,599 |
| FY2022 | $572 | $661 | $861 | $1,223 | $1,474 |
| FY2021 | $504 | $584 | $764 | $1,093 | $1,323 |
| FY2020 | $543 | $632 | $833 | $1,181 | $1,463 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $117,000
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $24,600 | $28,100 | $31,600 | $35,100 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $40,950 | $46,800 | $52,650 | $58,500 | $63,200 | $67,900 |
| 80% AMI (Low) | $65,550 | $74,900 | $84,250 | $93,600 | $101,100 | $108,600 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$13,704/yr
FMR as % of Area Median Income
11.7% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$45,680/yr
$3,807/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 | $1,023 | $1,170 | $1,316 | $1,579 | $1,696 |
| 60% AMI Maximum | $1,228 | $1,404 | $1,579 | $1,895 | $2,035 |
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 | $787 | $870 | $1,142 | $1,549 | $1,816 |
| Low HOME Rent | $1,023 | $1,170 | $1,316 | $1,462 | $1,580 |
Compare Steele 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