FY2026 Fair Market Rents — Pennington County
Studio
$774
1BR
$855
2BR
$1,122
3BR
$1,496
4BR
$1,631
Pennington County, Minnesota
FIPS 27113 · County-level FMR and income limit data
FMR Area: Pennington County, MN
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $774 | $9,288 |
| 1-Bedroom | $855 | $10,260 |
| 2-Bedroom | $1,122 | $13,464 |
| 3-Bedroom | $1,496 | $17,952 |
| 4-Bedroom | $1,631 | $19,572 |
To afford the FY2026 2-bedroom FMR of $1,122/mo under the 30%-of-income rule, a household needs about
$44,880/yr ($3,740/mo). Area Median Income is $111,300.
At MN's state minimum wage of $11.13/hr, a worker would need to work 78 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $774 | $855 | $1,122 | $1,496 | $1,631 |
| FY2025 | $741 | $823 | $1,080 | $1,371 | $1,559 |
| FY2024 | $746 | $837 | $1,100 | $1,399 | $1,590 |
| FY2023 | $629 | $714 | $940 | $1,208 | $1,368 |
| FY2022 | $543 | $621 | $817 | $1,047 | $1,188 |
| FY2021 | $484 | $557 | $734 | $913 | $1,062 |
| FY2020 | $495 | $577 | $760 | $947 | $1,030 |
FY2026 Income Limits
Area Median Income: $111,300
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $23,400 | $26,750 | $30,100 | $33,400 | $38,680 | $44,360 |
| 50% AMI | $39,000 | $44,550 | $50,100 | $55,650 | $60,150 | $64,600 |
| 80% AMI | $62,350 | $71,250 | $80,150 | $89,050 | $96,200 | $103,300 |