FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR- 55341
0.74ratio
FMR$1,280
Market$1,740
vs market-$460
FMR is below market; voucher rent may lag private rents.
0.74
2 BR
2 BR- 55341
0.74ratio
FMR$1,560
Market$2,120
vs market-$560
FMR is below market; voucher rent may lag private rents.
0.74
3 BR
3 BR- 55341
0.76ratio
FMR$2,040
Market$2,700
vs market-$660
FMR is below market; voucher rent may lag private rents.
0.76
4 BR
4 BR- 55341
0.78ratio
FMR$2,280
Market$2,930
vs market-$650
FMR is below market; voucher rent may lag private rents.
0.78
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Hanover, MN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Hanover, MN is $1,560 a month. That is up 2.6% from $1,520 in FY 2026. Hanover is in the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,734. The median county two-bedroom FMR in Minnesota is $1,048, so Hanover is 49% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Hanover, MN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,110
$1,140
+2.7%
$1,026–$1,254
1BR
$1,250
$1,280
+2.4%
$1,152–$1,408
2BR
$1,520
$1,560
+2.6%
$1,404–$1,716
3BR
$2,020
$2,040
+1.0%
$1,836–$2,244
4BR
$2,270
$2,280
+0.4%
$2,052–$2,508
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Hanover, MN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,140
$1,280
$1,560
$2,040
$2,280
FY 2026
$1,110
$1,250
$1,520
$2,020
$2,270
FY 2025
$1,080
$1,220
$1,490
$1,980
$2,240
FY 2024
$1,040
$1,180
$1,440
$1,940
$2,200
FY 2023
$840
$980
$1,200
$1,660
$1,940
Questions about Hanover, MN rents
How much will Section 8 pay for a two-bedroom in Hanover, MN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,734, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,561 to $1,907 a month; under the ZIP-level Small Area FMR of $1,560 it would be $1,404 to $1,716. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Hanover, MN in?
Hanover, MN is in the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,734.
How much did fair market rent change in Hanover, MN for FY 2027?
The two-bedroom FMR rose 2.6%, from $1,520 in FY 2026 to $1,560 in FY 2027. Since FY 2023 it has risen 30.0%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set