The median 2 bedroom fair market rent across Rice County's 8 tracked ZIP codes is $1,530 for FY2026, and typical market asking rent runs around $1,597. Rents here moved +2.0 percent year over year.
| ZIP | City | 2BR FMR | YoY | Market rent |
|---|---|---|---|---|
| 55053 | Nerstrand | $1,600 | +0.0% | |
| 55019 | Dundas | $1,570 | +6.8% | |
| 55046 | Lonsdale | $1,560 | -4.9% | |
| 55088 | Webster | $1,540 | -9.9% | |
| 55057 | Northfield | $1,520 | +4.1% | $1,745 |
| 55021 | Faribault | $1,210 | +0.0% | $1,449 |
| 55052 | Morristown | $1,210 | +9.0% | |
| 55087 | Warsaw | $1,210 | +8.0% |
FMR is the HUD Fair Market Rent for each ZIP, the 40th percentile of gross rents. Market rent is the latest Zillow ZORI where Zillow covers that ZIP.
Some ZIP codes in Rice County carry a HUD fair market rent at or above what landlords are asking, which makes a Housing Choice Voucher the stronger offer there. The Rice County Section 8 page lists the 2 bedroom fair market rent, the market rent, and the spread for every ZIP code in the county, and flags the voucher competitive ones.
Payment standards are not in this data. A housing authority sets its own standard, normally between 90 and 110 percent of the published fair market rent. See also the landlord voucher check, the what rent can I charge calculator, the rent trends by bedroom size, the statewide spread table, and the rent data guide.
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The median 2 bedroom HUD fair market rent across Rice County's 8 tracked ZIP codes is $1,530 for FY2026. Typical market asking rent runs around $1,597 per Zillow. Rent varies by ZIP, so use the table on this page for a specific area.
Morristown 55052 saw the biggest increase, +9.0 percent year over year. Webster 55088 saw the biggest decrease, -9.9 percent.
Fair Market Rent is HUD's estimate of the 40th percentile gross rent for a ZIP code. It sets Section 8 payment standards, so it is the rent a voucher will support there. Investors use it as a conservative floor when underwriting rental income.
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