Key Economic Benchmarks
Median Household Income
$71,023$5,919 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Freeborn County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Freeborn County, MN
Official FY2026 HUD Fair Market Rents for Freeborn County, MN. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $672 | $8,064 | $26,880 | 11.4% |
| 1-Bedroom Apartment | $742 | $8,904 | $29,680 | 12.5% |
| 2-Bedroom ApartmentBenchmark | $974 | $11,688 | $38,960 | 16.5% |
| 3-Bedroom Home | $1,283 | $15,396 | $51,320 | 21.7% |
| 4-Bedroom Home | $1,432 | $17,184 | $57,280 | 24.2% |
50/30/20 Living Budget in Freeborn County, MN
Based on the local median household income of $71,023/year ($5,919/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Minnesota
Explore net income after federal income tax, FICA, and Minnesota state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Minnesota with official federal datasets:
Frequently Asked Questions About Living in Freeborn County, MN
What is the median household income in Freeborn County, MN?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Freeborn County, MN is $71,023 per year (approximately $5,919 per month).
What is the average rent in Freeborn County, MN?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Freeborn County, MN are $672 for a studio, $742 for 1 bedroom, $974 for 2 bedrooms, $1,283 for 3 bedrooms, and $1,432 for 4 bedrooms.
How does the cost of living in Freeborn County, MN compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Freeborn County, MN is 98.6 (1.4% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Freeborn County, MN?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($974/month) in Freeborn County, MN requires a minimum gross household income of $38,960 per year ($3,247 per month).
What is a balanced 50/30/20 monthly budget in Freeborn County, MN?
For a typical household earning the median income of $71,023/year ($5,919/month) in Freeborn County, MN, a balanced 50/30/20 budget allocates $2,959/month to essential needs (rent, utilities, groceries), $1,776/month to discretionary spending, and $1,184/month to savings and debt repayment.
What are typical electricity and utility costs in Freeborn County, MN?
Residential electricity rates in Minnesota average 17.5¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $158 per month.