What is the Fair Market Rent for a 2-bedroom in Sibley County, MN HUD Metro FMR Area?

The HUD Fair Market Rent for a 2-bedroom unit in Sibley County, MN HUD Metro FMR Area is $808 per month for fiscal year 2021. The studio FMR is $555, 1-bedroom is $660, 3-bedroom is $1,070, and 4-bedroom is $1,194.

What income do you need to afford the FMR in Sibley County, MN HUD Metro FMR Area?

Using the standard 30%-of-income affordability rule, a household would need to earn about $32,320 per year ($2,693 per month) to afford the FY2021 2-bedroom Fair Market Rent of $808 in Sibley County, MN HUD Metro FMR Area.

FY2021 Fair Market Rents — Sibley County, MN HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2021 in this area are:

Studio

$555

1BR

$660

2BR

$808

3BR

$1,070

4BR

$1,194

Hours/week at min wage

56 hrs

to afford the 2BR FMR @ $11.13/hr (MN)

National rank

#434

of 632 U.S. metros (top 70% most expensive)

YoY change (2BR)

+2.9%

+$23 vs FY2020

Voucher payment standard

$727–$889

PHAs set HCV payment at 90–110% of the 2BR FMR

Sibley County, MN HUD Metro FMR Area

Metropolitan area · MN · View full history · Income limits · LIHTC rents

FY2021 Fair Market Rents

Bedroom Size	Monthly FMR	Annual Equivalent
Efficiency (Studio)	$555	$6,660
1-Bedroom	$660	$7,920
2-Bedroom	$808	$9,696
3-Bedroom	$1,070	$12,840
4-Bedroom	$1,194	$14,328

Recent 2-Bedroom FMR Trend

FY2017 $694 → FY2021 $808

Fiscal Year	Studio	1BR	2BR	3BR	4BR
FY2021	$555	$660	$808	$1,070	$1,194
FY2020	$531	$621	$785	$1,052	$1,167
FY2019	$489	$584	$737	$1,020	$1,106
FY2018	$458	$530	$701	$999	$1,039
FY2017	$448	$522	$694	$1,002	$1,068

View full FMR history back to FY2000 →

FY2021 Income Limits

Area Median Income (AMI): $77,500

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$16,300	$18,600	$21,960	$26,500	$31,040	$35,580
50% AMI (Very Low)	$27,150	$31,000	$34,900	$38,750	$41,850	$44,950
80% AMI (Low)	$43,400	$49,600	$55,800	$62,000	$67,000	$71,950

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$9,696/yr

FMR as % of Area Median Income

12.5% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$32,320/yr

$2,693/mo gross income

FY2021 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	$678	$775	$871	$1,046	$1,123
60% AMI Maximum	$813	$930	$1,046	$1,255	$1,348

FY2021 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	$555	$660	$808	$1,070	$1,194
Low HOME Rent	$678	$775	$872	$968	$1,046

Compare Sibley County, MN HUD Metro FMR Area 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