FY2026 Fair Market Rents — Nicollet County
Studio
$971
1BR
$977
2BR
$1,171
3BR
$1,629
4BR
$1,916
Nicollet County, Minnesota
FIPS 27103 · County-level FMR and income limit data
FMR Area: Mankato-North Mankato, MN MSA
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 |
To afford the FY2026 2-bedroom FMR of $1,171/mo under the 30%-of-income rule, a household needs about
$46,840/yr ($3,903/mo). Area Median Income is $106,500.
At MN's state minimum wage of $11.13/hr, a worker would need to work 81 hours/week to afford that rent.
Recent FMR Trend
| 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 |
FY2026 Income Limits
Area Median Income: $106,500
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $22,400 | $25,600 | $28,800 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $37,300 | $42,600 | $47,950 | $53,250 | $57,550 | $61,800 |
| 80% AMI | $59,650 | $68,200 | $76,700 | $85,200 | $92,050 | $98,850 |