Minnesota · FIPS 27147 · HUD FY 2027
Steele County, Minnesota Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Steele County is $1,244 a month (rent plus utilities), 17% below the Minnesota average of $1,507 and 29% below the U.S. average of $1,761. That is up $102 (8.9%) from FY 2026. At 30% of income, a household needs about $49,760 a year to afford it.
- $1,2442-bedroom FMR+$102 (+8.9%) vs FY 2026
- $9511-bedroom FMRMinnesota: $1,231 · U.S.: $1,478
- $49,760Income for a 2-bedroom$24/hour full-time
- 16 of 872BR rank in Minnesota1 = highest rent
| Unit | Steele County FY 2027 | FY 2026 | Change | Minnesota avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $866 | $787 | +$79 (+10.0%) | $1,102 | $1,379 | $34,640 |
| 1 bedroom | $951 | $870 | +$81 (+9.3%) | $1,231 | $1,478 | $38,040 |
| 2 bedrooms | $1,244 | $1,142 | +$102 (+8.9%) | $1,507 | $1,761 | $49,760 |
| 3 bedrooms | $1,703 | $1,549 | +$154 (+9.9%) | $1,980 | $2,266 | $68,120 |
| 4 bedrooms | $1,814 | $1,816 | −$2 (−0.1%) | $2,243 | $2,607 | $72,560 |
How Steele County compares
- Steele 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: $866, $951, $1,244, $1,703, $1,814. 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 Steele County (by land area), the 2-bedroom figure ranges from $1,040 to $1,410.
Small Area FMRs by ZIP code in Steele County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 55049 | $980 | $1,080 | $1,410 | $1,930 | $2,060 | +$240 (+20.5%) | 13% above |
| 55060 | $870 | $960 | $1,250 | $1,710 | $1,820 | +$100 (+8.7%) | about the same as |
| 55917 | $1,010 | $1,080 | $1,270 | $1,770 | $2,130 | +$60 (+5.0%) | 2% above |
| 56026 | $720 | $800 | $1,040 | $1,410 | $1,640 | +$20 (+2.0%) | 16% below |
| 56046 | $860 | $950 | $1,230 | $1,680 | $1,790 | +$90 (+7.9%) | 1% 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.