Rice County, MN: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,2262-bedroom FMR, FY2027

$9371-bedroom FMR, FY2027

$86,70080% income limit, family of 4 (FY2026)

$108,400Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Rice County is $1,226 a month, up 3.3% from $1,187 in FY2026. Rice County belongs to the Rice County, MN FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Rice County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$931	$899	+3.6%	$838 – $1,024
1 bedroom	$937	$905	+3.5%	$844 – $1,030
2 bedrooms	$1,226	$1,187	+3.3%	$1,104 – $1,348
3 bedrooms	$1,621	$1,534	+5.7%	$1,459 – $1,783
4 bedrooms	$2,049	$1,991	+2.9%	$1,845 – $2,253

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Rice County that is typically $1,104 to $1,348 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$42,068median income of renter households

$1,083Median gross rent, all units

31%Rent-to-income ratio (median rent ÷ median renter income)

45%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $42,068 can afford about $1,052 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,226 is $174 (16.6%) more than that. To rent a two-bedroom at the FMR, a household needs $49,040 a year under the 30% rule, or $44,136 under the common landlord rule that income must be three times the rent.

Rice County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,083 ±$65
Median income of renter households	$42,068 ±$6,105
Renters paying 30% or more of income (cost-burdened)	44.6% ±5.8
Renters paying 50% or more (severely cost-burdened)	20.5% ±3.2
Renter households (where the share can be computed)	5,176

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$843	$1,083	+28.5%
Median renter household income	$31,860	$42,068	+32.0%
Renters paying 30%+ of income	49.0%	44.6%	−4.4 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Rice County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $108,400 (FY2025: $107,700, +0.6%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$22,750 +0.4%	$26,000 +0.6%	$29,250 +0.5%	$33,000 +2.2%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$37,950 +0.7%	$43,400 +0.7%	$48,800 +0.6%	$54,200 +0.6%	$58,550 +0.6%	$62,900 +0.6%	$67,250 +0.7%	$71,550 +0.6%
Low income (80%)	$60,700 +0.6%	$69,400 +0.7%	$78,050 +0.6%	$86,700 +0.6%	$93,650 +0.6%	$100,600 +0.7%	$107,550 +0.7%	$114,450 +0.6%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.