Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,074$12,888 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Itasca County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Itasca 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 | $754 | $9,048 | $30,160 | $14.50/hr |
| 1-Bedroom Apartment | $860 | $10,320 | $34,400 | $16.54/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,074 | $12,888 | $42,960 | $20.65/hr |
| 3-Bedroom Home | $1,401 | $16,812 | $56,040 | $26.94/hr |
| 4-Bedroom Home | $1,516 | $18,192 | $60,640 | $29.15/hr |
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Frequently Asked Questions About Rent in Itasca County, MN
What is the Fair Market Rent for a 2-bedroom in Itasca County, MN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Itasca County, MN is $1,074 per month ($12,888 per year).
What hourly wage is needed to afford rent in Itasca County, MN?
To comfortably afford a 2-bedroom apartment at $1,074/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $20.65 per hour ($42,960/year).
What are the HUD Fair Market Rents by bedroom count in Itasca County, MN?
Official 2026 HUD rents in Itasca County, MN are: Studio: $754/mo, 1-Bedroom: $860/mo, 2-Bedroom: $1,074/mo, 3-Bedroom: $1,401/mo, and 4-Bedroom: $1,516/mo.
How do HUD Fair Market Rents compare to local incomes in Itasca County, MN?
At the local Census ACS median household income of $68,603/year ($5,717/month), the benchmark 2-bedroom Fair Market Rent represents 18.8% of monthly income.
How is the 30% housing affordability standard calculated in Itasca County, MN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,074/month, the required minimum annual gross income is calculated as ($1,074 × 12) ÷ 0.30 = $42,960 per year.