FY2026 Fair Market Rents — Mankato-North Mankato, MN MSA
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$971
1BR
$977
2BR
$1,171
3BR
$1,629
4BR
$1,916
Hours/week at min wage
81 hrs
to afford the 2BR FMR @ $11.13/hr (MN)
National rank
#394
of 661 U.S. metros (top 60% most expensive)
YoY change (2BR)
-0.3%
$3 vs FY2025 · 5-yr +21.9%
Voucher payment standard
$1,054–$1,288
PHAs set HCV payment at 90–110% of the 2BR FMR
Mankato-North Mankato, MN MSA
Metropolitan area · MN · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $971 | $11,652 |
| 1-Bedroom | $977 | $11,724 |
| 2-Bedroom | $1,171 | $14,052 |
| 3-Bedroom | $1,629 | $19,548 |
| 4-Bedroom | $1,916 | $22,992 |
Recent 2-Bedroom FMR Trend
FY2020 $920 → FY2026 $1,171
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $971 | $977 | $1,171 | $1,629 | $1,916 |
| FY2025 | $963 | $969 | $1,174 | $1,645 | $1,971 |
| FY2024 | $897 | $903 | $1,101 | $1,552 | $1,868 |
| FY2023 | $828 | $845 | $1,056 | $1,478 | $1,799 |
| FY2022 | $710 | $776 | $992 | $1,378 | $1,698 |
| FY2021 | $646 | $732 | $961 | $1,345 | $1,664 |
| FY2020 | $612 | $704 | $920 | $1,299 | $1,615 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $106,500
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $22,400 | $25,600 | $28,800 | $33,000 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $37,300 | $42,600 | $47,950 | $53,250 | $57,550 | $61,800 |
| 80% AMI (Low) | $59,650 | $68,200 | $76,700 | $85,200 | $92,050 | $98,850 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$14,052/yr
FMR as % of Area Median Income
13.2% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$46,840/yr
$3,903/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 | $931 | $1,065 | $1,198 | $1,437 | $1,544 |
| 60% AMI Maximum | $1,118 | $1,278 | $1,437 | $1,725 | $1,853 |
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 | $971 | $977 | $1,171 | $1,629 | $1,730 |
| Low HOME Rent | $932 | $1,065 | $1,198 | $1,331 | $1,438 |
Compare Mankato-North Mankato, MN MSA With Other MN Metros
vs. Duluth, MN-WI MSA
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vs. Grand Forks, ND-MN MSA
vs. La Crosse-Onalaska, WI-MN MSA