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RentData.org Logo Steele County Fair Market Rent FY 2021 Steele County, MN Rental Data

Fair Market Rent Prices in Steele County, MN :
$504 $584 $764 $1,093 $1,323
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Non-Metro

Fair Market Rent prices in Steele County are average compared to the national average. This FMR area is more expensive than 67% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Steele County is $764 per month.

The previous year, rent for a two-bedroom home was $833 per month. This is a 8.28% decrease year-over-year.

This FMR rate applies to Hope, MN, Waseca, MN, Owatonna, MN and other cities within the region. The Metro Code or CBSA code for this region is NCNTY27147N27147.

Additionally, This Fair Market Rent (FMR) area Steele County, MN spans one county or city in Minnesota which is listed in the table below. Estimated population of Steele County, MN FMR area is 36,610 people based on latest Census data.

Compared to the rest of Minnesota, the Steele County FMR area is more expensive than 81% of the state.

Minnesota Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Steele County. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Steele County

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 534
1-BR 1-Bedroom $ 620
2-BR 2-Bedroom $ 810
3-BR 3-Bedroom $ 1159
4-BR 4-Bedroom $ 1402
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Steele County, MN FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Minneapolis - St. Paul.

County / Region Est. Population
Steele County, MN 36,610
Zip Codes in Steele County, MN

There are 3 unique zip codes in this Fair Market Rent (FMR) area:

55060, 56046 and 56093

Lookup Fair Market Rent by Zip Code

What's Next?

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