At $990/mo, rent takes about 19% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $990 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: March 14, 2026
What the numbers show
30% of the median household income ($64,074) is $1,602 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,480); a 4-bedroom is $1,740.
From Zillow's monthly rent index (ZORI) for Waseca. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Waseca, MN is majority owner-occupied, has a median income below the national average, 17.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Waseca, MN has changed in 5 years
Household income in the area moved from $57,022 to $64,074 across the same window, up 12.4% versus 2021. Bachelor's-degree-or-higher attainment moved from 19.2% to 17.2% across the same window.
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Can you afford rent in Waseca on your salary?
At $990/mo, how Waseca rent compares to typical pay (30% rule).
Waseca rent by bedroom count
Median rent for each apartment size in Waseca. Click any size for full breakdown.
Tips for renters in Waseca
Last updated: March 14, 2026
The median rent in Waseca is $990/mo as of March 2026. A studio apartment averages $830/mo while a 2-bedroom runs $1,090/mo. One-bedroom apartments average $830/mo and 3-bedroom units go for $1,480/mo.
At 19% of local median household income ($64,074/yr), Waseca ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
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Is rent going up or down in Waseca?
How does Waseca rent compare to other cities in Minnesota?
At $990/mo, rent takes ~19% of Waseca's median household income ($64,074/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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