Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,089$13,068 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Polk County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Polk 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 | $863 | $10,356 | $34,520 | $16.60/hr |
| 1-Bedroom Apartment | $868 | $10,416 | $34,720 | $16.69/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,089 | $13,068 | $43,560 | $20.94/hr |
| 3-Bedroom Home | $1,515 | $18,180 | $60,600 | $29.13/hr |
| 4-Bedroom Home | $1,827 | $21,924 | $73,080 | $35.13/hr |
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Frequently Asked Questions About Rent in Polk County, MN
What is the Fair Market Rent for a 2-bedroom in Polk County, MN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Polk County, MN is $1,089 per month ($13,068 per year).
What hourly wage is needed to afford rent in Polk County, MN?
To comfortably afford a 2-bedroom apartment at $1,089/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $20.94 per hour ($43,560/year).
What are the HUD Fair Market Rents by bedroom count in Polk County, MN?
Official 2026 HUD rents in Polk County, MN are: Studio: $863/mo, 1-Bedroom: $868/mo, 2-Bedroom: $1,089/mo, 3-Bedroom: $1,515/mo, and 4-Bedroom: $1,827/mo.
How do HUD Fair Market Rents compare to local incomes in Polk County, MN?
At the local Census ACS median household income of $73,107/year ($6,092/month), the benchmark 2-bedroom Fair Market Rent represents 17.9% of monthly income.
How is the 30% housing affordability standard calculated in Polk County, MN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,089/month, the required minimum annual gross income is calculated as ($1,089 × 12) ÷ 0.30 = $43,560 per year.