Rental Benchmark Overview
2-Bedroom Benchmark Rent
$973$11,676 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Lyon County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Lyon 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 | $678 | $8,136 | $27,120 | $13.04/hr |
| 1-Bedroom Apartment | $834 | $10,008 | $33,360 | $16.04/hr |
| 2-Bedroom ApartmentStandard Benchmark | $973 | $11,676 | $38,920 | $18.71/hr |
| 3-Bedroom Home | $1,353 | $16,236 | $54,120 | $26.02/hr |
| 4-Bedroom Home | $1,632 | $19,584 | $65,280 | $31.38/hr |
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Frequently Asked Questions About Rent in Lyon County, MN
What is the Fair Market Rent for a 2-bedroom in Lyon County, MN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Lyon County, MN is $973 per month ($11,676 per year).
What hourly wage is needed to afford rent in Lyon County, MN?
To comfortably afford a 2-bedroom apartment at $973/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.71 per hour ($38,920/year).
What are the HUD Fair Market Rents by bedroom count in Lyon County, MN?
Official 2026 HUD rents in Lyon County, MN are: Studio: $678/mo, 1-Bedroom: $834/mo, 2-Bedroom: $973/mo, 3-Bedroom: $1,353/mo, and 4-Bedroom: $1,632/mo.
How do HUD Fair Market Rents compare to local incomes in Lyon County, MN?
At the local Census ACS median household income of $75,303/year ($6,275/month), the benchmark 2-bedroom Fair Market Rent represents 15.5% of monthly income.
How is the 30% housing affordability standard calculated in Lyon County, MN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $973/month, the required minimum annual gross income is calculated as ($973 × 12) ÷ 0.30 = $38,920 per year.