FY2026 Fair Market Rents — Rice County
Studio
$899
1BR
$905
2BR
$1,187
3BR
$1,534
4BR
$1,991
Rice County, Minnesota
FIPS 27131 · County-level FMR and income limit data
FMR Area: Rice County, MN
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $899 | $10,788 |
| 1-Bedroom | $905 | $10,860 |
| 2-Bedroom | $1,187 | $14,244 |
| 3-Bedroom | $1,534 | $18,408 |
| 4-Bedroom | $1,991 | $23,892 |
To afford the FY2026 2-bedroom FMR of $1,187/mo under the 30%-of-income rule, a household needs about
$47,480/yr ($3,957/mo). Area Median Income is $108,400.
At MN's state minimum wage of $11.13/hr, a worker would need to work 83 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $899 | $905 | $1,187 | $1,534 | $1,991 |
| FY2025 | $891 | $897 | $1,177 | $1,564 | $1,938 |
| FY2024 | $913 | $918 | $1,206 | $1,634 | $1,932 |
| FY2023 | $795 | $815 | $1,073 | $1,477 | $1,688 |
| FY2022 | $690 | $749 | $986 | $1,337 | $1,493 |
| FY2021 | $609 | $686 | $904 | $1,242 | $1,307 |
| FY2020 | $603 | $701 | $923 | $1,270 | $1,293 |
FY2026 Income Limits
Area Median Income: $108,400
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $22,750 | $26,000 | $29,250 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $37,950 | $43,400 | $48,800 | $54,200 | $58,550 | $62,900 |
| 80% AMI | $60,700 | $69,400 | $78,050 | $86,700 | $93,650 | $100,600 |