Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,122$13,464 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Pennington County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Pennington 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 | $774 | $9,288 | $30,960 | $14.88/hr |
| 1-Bedroom Apartment | $855 | $10,260 | $34,200 | $16.44/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,122 | $13,464 | $44,880 | $21.58/hr |
| 3-Bedroom Home | $1,496 | $17,952 | $59,840 | $28.77/hr |
| 4-Bedroom Home | $1,631 | $19,572 | $65,240 | $31.37/hr |
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Frequently Asked Questions About Rent in Pennington County, MN
What is the Fair Market Rent for a 2-bedroom in Pennington County, MN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Pennington County, MN is $1,122 per month ($13,464 per year).
What hourly wage is needed to afford rent in Pennington County, MN?
To comfortably afford a 2-bedroom apartment at $1,122/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $21.58 per hour ($44,880/year).
What are the HUD Fair Market Rents by bedroom count in Pennington County, MN?
Official 2026 HUD rents in Pennington County, MN are: Studio: $774/mo, 1-Bedroom: $855/mo, 2-Bedroom: $1,122/mo, 3-Bedroom: $1,496/mo, and 4-Bedroom: $1,631/mo.
How do HUD Fair Market Rents compare to local incomes in Pennington County, MN?
At the local Census ACS median household income of $77,325/year ($6,444/month), the benchmark 2-bedroom Fair Market Rent represents 17.4% of monthly income.
How is the 30% housing affordability standard calculated in Pennington County, MN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,122/month, the required minimum annual gross income is calculated as ($1,122 × 12) ÷ 0.30 = $44,880 per year.