FY2026 Fair Market Rents — Faribault County
Studio
$671
1BR
$790
2BR
$973
3BR
$1,312
4BR
$1,317
Faribault County, Minnesota
FIPS 27043 · County-level FMR and income limit data
FMR Area: Faribault County, MN
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $671 | $8,052 |
| 1-Bedroom | $790 | $9,480 |
| 2-Bedroom | $973 | $11,676 |
| 3-Bedroom | $1,312 | $15,744 |
| 4-Bedroom | $1,317 | $15,804 |
To afford the FY2026 2-bedroom FMR of $973/mo under the 30%-of-income rule, a household needs about
$38,920/yr ($3,243/mo). Area Median Income is $88,200.
At MN's state minimum wage of $11.13/hr, a worker would need to work 68 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $671 | $790 | $973 | $1,312 | $1,317 |
| FY2025 | $640 | $744 | $933 | $1,307 | $1,312 |
| FY2024 | $613 | $726 | $905 | $1,256 | $1,260 |
| FY2023 | $552 | $660 | $826 | $1,152 | $1,156 |
| FY2022 | $503 | $594 | $757 | $1,027 | $1,087 |
| FY2021 | $484 | $557 | $734 | $966 | $1,085 |
| FY2020 | $471 | $542 | $714 | $945 | $1,030 |
FY2026 Income Limits
Area Median Income: $88,200
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $20,600 | $23,550 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $34,300 | $39,200 | $44,100 | $49,000 | $52,950 | $56,850 |
| 80% AMI | $54,900 | $62,750 | $70,600 | $78,400 | $84,700 | $90,950 |