Rental Benchmark Overview
2-Bedroom Benchmark Rent
$999$11,988 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in McLeod County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: McLeod 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 | $823 | $9,876 | $32,920 | $15.83/hr |
| 1-Bedroom Apartment | $865 | $10,380 | $34,600 | $16.63/hr |
| 2-Bedroom ApartmentStandard Benchmark | $999 | $11,988 | $39,960 | $19.21/hr |
| 3-Bedroom Home | $1,198 | $14,376 | $47,920 | $23.04/hr |
| 4-Bedroom Home | $1,662 | $19,944 | $66,480 | $31.96/hr |
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Frequently Asked Questions About Rent in McLeod County, MN
What is the Fair Market Rent for a 2-bedroom in McLeod County, MN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in McLeod County, MN is $999 per month ($11,988 per year).
What hourly wage is needed to afford rent in McLeod County, MN?
To comfortably afford a 2-bedroom apartment at $999/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.21 per hour ($39,960/year).
What are the HUD Fair Market Rents by bedroom count in McLeod County, MN?
Official 2026 HUD rents in McLeod County, MN are: Studio: $823/mo, 1-Bedroom: $865/mo, 2-Bedroom: $999/mo, 3-Bedroom: $1,198/mo, and 4-Bedroom: $1,662/mo.
How do HUD Fair Market Rents compare to local incomes in McLeod County, MN?
At the local Census ACS median household income of $80,084/year ($6,674/month), the benchmark 2-bedroom Fair Market Rent represents 15% of monthly income.
How is the 30% housing affordability standard calculated in McLeod County, MN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $999/month, the required minimum annual gross income is calculated as ($999 × 12) ÷ 0.30 = $39,960 per year.