The median 2 bedroom fair market rent across Nicollet County's 5 tracked ZIP codes is $1,060 for FY2026, and typical market asking rent runs around $1,225. Rents here moved +0.0 percent year over year.
| ZIP | City | 2BR FMR | YoY | Market rent |
|---|---|---|---|---|
| 56021 | Courtland | $1,150 | +0.0% | |
| 56082 | Saint Peter | $1,110 | -3.5% | $1,166 |
| 56003 | Mankato | $1,060 | +3.9% | $1,225 |
| 56054 | Lafayette | $1,060 | +6.0% | |
| 56074 | Nicollet | $1,060 | -4.5% |
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.
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The median 2 bedroom HUD fair market rent across Nicollet County's 5 tracked ZIP codes is $1,060 for FY2026. Typical market asking rent runs around $1,225 per Zillow. Rent varies by ZIP, so use the table on this page for a specific area.
Lafayette 56054 saw the biggest increase, +6.0 percent year over year. Nicollet 56074 saw the biggest decrease, -4.5 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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