The 2 bedroom fair market rent in Fairfax (Renville County) is $1,060 for FY2026. Rents here moved +6.0 percent year over year. ZIP 55332 sits in the Sibley County, MN area.
See how this ZIP compares for Section 8 vouchers, fair market rent against market asking rent for every tracked Minnesota ZIP.
| Unit size | FY2026 FMR | Vs FY2025 | ACS median |
|---|---|---|---|
| Studio | $870 | +7.4% | |
| 1 bedroom | $880 | +7.3% | |
| 2 bedroom | $1,060 | +6.0% | |
| 3 bedroom | $1,490 | +6.4% | |
| 4 bedroom | $1,780 | +5.3% |
FMR is the HUD Fair Market Rent for this ZIP, the 40th percentile of gross rents. It anchors Section 8 payment standards and runs below top of market. ACS median is the Census survey estimate where available.
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Among the 10 Renville County ZIP codes with a HUD rent estimate, 55332 ranks number 2 of 10 on 2 bedroom fair market rent. That is $40 above the county median of $1,020. The county runs from $970 in Sacred Heart 56285 to $1,070 in Danube 56230. Statewide the median 2 bedroom fair market rent is $1,090, which puts Fairfax 3 percent below the Minnesota median. The largest single year move since FY2021 came in FY2024, +6.7 percent, and the 2 bedroom estimate has gone from $830 to $1,060 over 5 fiscal years. Zillow does not publish a rent index for 55332, so the fair market rent is the only published rent benchmark here. The landlord voucher check compares an asking rent against it.
Of the 6 nearest ZIP codes with an estimate, Morgan 56266 carries the highest 2 bedroom fair market rent at $1,210 and Morton 56270 the lowest at $1,030, against $1,060 here.
The HUD fair market rent for a 2 bedroom in ZIP 55332 is $1,060 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 6.0 percent from FY2025 to FY2026, moving from $1,000 to $1,060.
Fair Market Rent is HUD's estimate of the 40th percentile gross rent for a ZIP. It sets Section 8 payment standards, so it is the rent a voucher will support here. Investors use it as a conservative floor when underwriting rental income.
Rent level is only one input. Run the numbers: at $1,060 for a 2 bedroom, a deal in Fairfax pencils or it does not based on price, taxes, insurance, and financing. Pencilwrite computes cap rate, cash-on-cash, DSCR, and true ROE from a few inputs.
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