Rental Benchmark Overview
2-Bedroom Benchmark Rent
$974$11,688 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Freeborn County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Freeborn County, MN
Calculations assume standard housing affordability guidelines where shelter costs consume no more than 30% of gross income, based on full-time employment of 2,080 annual working hours.
| Bedroom Type | Monthly Rent | Annual Rent | Min. Annual Income | Hourly Wage (40h/wk) |
|---|---|---|---|---|
| Studio / Efficiency | $672 | $8,064 | $26,880 | $12.92/hr |
| 1-Bedroom Apartment | $742 | $8,904 | $29,680 | $14.27/hr |
| 2-Bedroom ApartmentStandard Benchmark | $974 | $11,688 | $38,960 | $18.73/hr |
| 3-Bedroom Home | $1,283 | $15,396 | $51,320 | $24.67/hr |
| 4-Bedroom Home | $1,432 | $17,184 | $57,280 | $27.54/hr |
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Frequently Asked Questions About Rent in Freeborn County, MN
What is the Fair Market Rent for a 2-bedroom in Freeborn County, MN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Freeborn County, MN is $974 per month ($11,688 per year).
What hourly wage is needed to afford rent in Freeborn County, MN?
To comfortably afford a 2-bedroom apartment at $974/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.73 per hour ($38,960/year).
What are the HUD Fair Market Rents by bedroom count in Freeborn County, MN?
Official 2026 HUD rents in Freeborn County, MN are: Studio: $672/mo, 1-Bedroom: $742/mo, 2-Bedroom: $974/mo, 3-Bedroom: $1,283/mo, and 4-Bedroom: $1,432/mo.
How do HUD Fair Market Rents compare to local incomes in Freeborn County, MN?
At the local Census ACS median household income of $71,023/year ($5,919/month), the benchmark 2-bedroom Fair Market Rent represents 16.5% of monthly income.
How is the 30% housing affordability standard calculated in Freeborn County, MN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $974/month, the required minimum annual gross income is calculated as ($974 × 12) ÷ 0.30 = $38,960 per year.