Minnesota · FIPS 27103 · HUD FY 2027
Nicollet County, Minnesota Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Nicollet County is $1,230 a month (rent plus utilities), 18% below the Minnesota average of $1,507 and 30% below the U.S. average of $1,761. That is up $59 (5.0%) from FY 2026. At 30% of income, a household needs about $49,200 a year to afford it.
- $1,2302-bedroom FMR+$59 (+5.0%) vs FY 2026
- $1,0231-bedroom FMRMinnesota: $1,231 · U.S.: $1,478
- $49,200Income for a 2-bedroom$24/hour full-time
- 19 of 872BR rank in Minnesota1 = highest rent
| Unit | Nicollet County FY 2027 | FY 2026 | Change | Minnesota avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,016 | $971 | +$45 (+4.6%) | $1,102 | $1,379 | $40,640 |
| 1 bedroom | $1,023 | $977 | +$46 (+4.7%) | $1,231 | $1,478 | $40,920 |
| 2 bedrooms | $1,230 | $1,171 | +$59 (+5.0%) | $1,507 | $1,761 | $49,200 |
| 3 bedrooms | $1,703 | $1,629 | +$74 (+4.5%) | $1,980 | $2,266 | $68,120 |
| 4 bedrooms | $1,744 | $1,916 | −$172 (−9.0%) | $2,243 | $2,607 | $69,760 |
How Nicollet County compares
- HUD sets this rent for the Mankato, MN metro FMR area, which covers 104,282 residents in 2 counties.
- Across Minnesota, 2-bedroom FMRs run from $1,014 (Yellow Medicine County) to $1,734 (Anoka County).
- Studio to 4-bedroom: $1,016, $1,023, $1,230, $1,703, $1,744. 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 5 ZIP codes mostly in Nicollet County (by land area), the 2-bedroom figure ranges from $1,060 to $1,120.
Small Area FMRs by ZIP code in Nicollet County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 56003 | $880 | $890 | $1,070 | $1,480 | $1,730 | +$10 (+0.9%) | 13% below |
| 56021 | $880 | $880 | $1,070 | $1,470 | $1,730 | −$80 (−7.0%) | 13% below |
| 56054 | $880 | $880 | $1,060 | $1,470 | $1,730 | no change | 14% below |
| 56074 | $880 | $880 | $1,060 | $1,470 | $1,730 | no change | 14% below |
| 56082 | $920 | $930 | $1,120 | $1,550 | $1,730 | +$10 (+0.9%) | 9% below |
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.