HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Rice County, Minnesota (FY 2026)
$1,187 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Rice County, and it's the baseline every voucher in Rice is measured against.
2 bedroom FMR
$1,187
FY 2026, utilities included
Payment standard range
$1,068 to $1,306
90% to 110% of FMR
Income to afford 2BR
$47,480
per year, at 30% of income
Rank in Minnesota
19th of 87
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Rice moves to $1,226. That's up 3%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Rice actually rent for?
Search any address in Rice for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $899 | $809 to $989 | $35,960 | $17.29/hr | +0.9% |
| 1 bedroom | $905 | $815 to $996 | $36,200 | $17.40/hr | +0.9% |
| 2 bedroom | $1,187 | $1,068 to $1,306 | $47,480 | $22.83/hr | +0.8% |
| 3 bedroom | $1,534 | $1,381 to $1,687 | $61,360 | $29.50/hr | -1.9% |
| 4 bedroom | $1,991 | $1,792 to $2,190 | $79,640 | $38.29/hr | +2.7% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,290 | $2,061 to $2,519 |
| 6 bedroom Estimate | $2,588 | $2,329 to $2,847 |
| 7 bedroom Estimate | $2,887 | $2,598 to $3,176 |
| 8 bedroom Estimate | $3,186 | $2,867 to $3,505 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Rice, that runs from $899 for a studio up to $1,991 for four bedrooms, all five rates in the table above.
Because Rice sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Dundas included.
Among Minnesota's 87 counties, Rice ranks 19th for two-bedroom FMR. That's about 19% above the state median of $999 and about 17% above the national median county at $1,018. About 67,152 people live here, 14th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,210 in 55021 (Faribault) and $1,600 in 55053 (Nerstrand), with the 8 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Rice somewhere between $1,068 and $1,306. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,187 a month is affordable, by HUD's 30% rule, on an income of roughly $47,480 a year. Put another way, $23 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,068) | HAP at 100% ($1,187) | HAP at 110% ($1,306) |
|---|---|---|---|---|
| $2,500 | $750 | $318 | $437 | $556 |
| $4,000 | $1,200 | $0 | $0 | $106 |
Rate history
The two-bedroom rate went up 1% from FY 2025 ($1,177) to FY 2026 ($1,187). Since FY 2020 it's up 29% in total, about 4.3% a year. The Minnesota median moved up 7% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $603 | $701 | $923 | $1,270 | $1,293 | — |
| FY 2021 | $609 | $686 | $904 | $1,242 | $1,307 | -2.1% |
| FY 2022 | $690 | $749 | $986 | $1,337 | $1,493 | +9.1% |
| FY 2023 | $795 | $815 | $1,073 | $1,477 | $1,688 | +8.8% |
| FY 2024 | $913 | $918 | $1,206 | $1,634 | $1,932 | +12.4% |
| FY 2025 | $891 | $897 | $1,177 | $1,564 | $1,938 | -2.4% |
| FY 2026 | $899 | $905 | $1,187 | $1,534 | $1,991 | +0.8% |
| FY 2027 | $931 | $937 | $1,226 | $1,621 | $2,049 | +3.3% |
Nearby counties
Questions people ask
$1,187 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $899 for a studio, $905 for one bedroom, $1,534 for three and $1,991 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Rice actually go for?
HUD's number is one input. Search any address in Rice for a rent estimate built from nearby comps. 3 free searches, no card.
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