Mankato, MN MSA · FY2026 area median income $106,500 · effective May 1, 2026
Check whether a deal here pencils →| Unit | 20% | 30% | 40% | 50% | 60% | 70% | 80% |
|---|---|---|---|---|---|---|---|
| Studio | $373 | $559 | $746 | $932 | $1,119 | $1,305 | $1,492 |
| 1BR | $399 | $599 | $799 | $998 | $1,198 | $1,398 | $1,598 |
| 2BR | $479 | $719 | $959 | $1,198 | $1,438 | $1,678 | $1,918 |
| 3BR | $554 | $831 | $1,108 | $1,385 | $1,662 | $1,939 | $2,216 |
| 4BR | $618 | $927 | $1,236 | $1,545 | $1,854 | $2,163 | $2,472 |
Gross rent includes utilities. Subtract the utility allowance for the rent you can charge.
| Household | 30% | 50% | 60% | 80% |
|---|---|---|---|---|
| 1 person | $22,380 | $37,300 | $44,760 | $59,680 |
| 2 persons | $25,560 | $42,600 | $51,120 | $68,160 |
| 3 persons | $28,770 | $47,950 | $57,540 | $76,720 |
| 4 persons | $31,950 | $53,250 | $63,900 | $85,200 |
| 5 persons | $34,530 | $57,550 | $69,060 | $92,080 |
| 6 persons | $37,080 | $61,800 | $74,160 | $98,880 |
| 7 persons | $39,630 | $66,050 | $79,260 | $105,680 |
| 8 persons | $42,180 | $70,300 | $84,360 | $112,480 |
Rents are capped at 30% of the income limit for an imputed household of 1.5 persons per bedroom, so a two-bedroom unit uses the three-person limit. Under the average income test, units can be designated from 20% to 80% AMI as long as the weighted average stays at or below 60%.
Run a deal in Nicollet County to see the sources and uses, bond test, DSCR, and funding gap using these rents.