Minnesota · FIPS 27043 · HUD FY 2027
Faribault County, Minnesota Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Faribault County is $1,014 a month (rent plus utilities), 33% below the Minnesota average of $1,507 and 42% below the U.S. average of $1,761. That is up $41 (4.2%) from FY 2026. At 30% of income, a household needs about $40,560 a year to afford it.
- $1,0142-bedroom FMR+$41 (+4.2%) vs FY 2026
- $8591-bedroom FMRMinnesota: $1,231 · U.S.: $1,478
- $40,560Income for a 2-bedroom$20/hour full-time
- 53 of 872BR rank in Minnesota1 = highest rent
| Unit | Faribault County FY 2027 | FY 2026 | Change | Minnesota avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $706 | $671 | +$35 (+5.2%) | $1,102 | $1,379 | $28,240 |
| 1 bedroom | $859 | $790 | +$69 (+8.7%) | $1,231 | $1,478 | $34,360 |
| 2 bedrooms | $1,014 | $973 | +$41 (+4.2%) | $1,507 | $1,761 | $40,560 |
| 3 bedrooms | $1,386 | $1,312 | +$74 (+5.6%) | $1,980 | $2,266 | $55,440 |
| 4 bedrooms | $1,391 | $1,317 | +$74 (+5.6%) | $2,243 | $2,607 | $55,640 |
How Faribault County compares
- Faribault County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Minnesota, 2-bedroom FMRs run from $1,014 (Yellow Medicine County) to $1,734 (Anoka County).
- Studio to 4-bedroom: $706, $859, $1,014, $1,386, $1,391. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 9 ZIP codes mostly in Faribault County (by land area), the 2-bedroom figure ranges from $1,010 to $1,340.
Small Area FMRs by ZIP code in Faribault County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 56013 | $750 | $910 | $1,070 | $1,460 | $1,470 | +$70 (+7.0%) | 6% above |
| 56014 | $710 | $860 | $1,010 | $1,400 | $1,400 | +$40 (+4.1%) | about the same as |
| 56023 | $750 | $910 | $1,070 | $1,460 | $1,470 | +$100 (+10.3%) | 6% above |
| 56025 | $910 | $1,070 | $1,320 | $1,780 | $1,790 | −$140 (−9.6%) | 30% above |
| 56027 | $770 | $930 | $1,100 | $1,500 | $1,500 | +$50 (+4.8%) | 8% above |
| 56033 | $710 | $860 | $1,010 | $1,400 | $1,400 | +$40 (+4.1%) | about the same as |
| 56051 | $930 | $1,130 | $1,340 | $1,830 | $1,840 | −$40 (−2.9%) | 32% above |
| 56097 | $710 | $850 | $1,010 | $1,390 | $1,410 | +$40 (+4.1%) | about the same as |
| 56098 | $730 | $890 | $1,050 | $1,440 | $1,440 | +$60 (+6.1%) | 4% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.