Rental Benchmark Overview
2-Bedroom Benchmark Rent
$973$11,676 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Waseca County, MN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Waseca 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 | $677 | $8,124 | $27,080 | $13.02/hr |
| 1-Bedroom Apartment | $742 | $8,904 | $29,680 | $14.27/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 | $1,495 | $17,940 | $59,800 | $28.75/hr |
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Frequently Asked Questions About Rent in Waseca County, MN
What is the Fair Market Rent for a 2-bedroom in Waseca County, MN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Waseca County, MN is $973 per month ($11,676 per year).
What hourly wage is needed to afford rent in Waseca 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 Waseca County, MN?
Official 2026 HUD rents in Waseca County, MN are: Studio: $677/mo, 1-Bedroom: $742/mo, 2-Bedroom: $973/mo, 3-Bedroom: $1,353/mo, and 4-Bedroom: $1,495/mo.
How do HUD Fair Market Rents compare to local incomes in Waseca County, MN?
At the local Census ACS median household income of $76,261/year ($6,355/month), the benchmark 2-bedroom Fair Market Rent represents 15.3% of monthly income.
How is the 30% housing affordability standard calculated in Waseca 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.