FMR is near market; voucher and private rents are aligned.
0.98
1 BR
1 BR- 56073
0.92ratio
FMR$880
Market$960
vs market-$80
FMR is near market; voucher and private rents are aligned.
0.92
2 BR
2 BR- 56073
1.03ratio
FMR$1,110
Market$1,080
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR- 56073
1.25ratio
FMR$1,470
Market$1,180
vs market+$290
FMR is above market; underwrite to market rent.
1.25
4 BR
4 BR- 56073
1.53ratio
FMR$1,760
Market$1,150
vs market+$610
FMR is above market; underwrite to market rent.
1.53
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
--
New Ulm, MN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in New Ulm, MN is $1,110 a month. That is up 4.7% from $1,060 in FY 2026. New Ulm is in the Mankato, MN MSA. 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 $1,230. The median county two-bedroom FMR in Minnesota is $1,048, so New Ulm is 6% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for New Ulm, MN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$870
$880
+1.1%
$792–$968
1BR
$880
$880
0.0%
$792–$968
2BR
$1,060
$1,110
+4.7%
$999–$1,221
3BR
$1,490
$1,470
−1.3%
$1,323–$1,617
4BR
$1,780
$1,760
−1.1%
$1,584–$1,936
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for New Ulm, MN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$880
$880
$1,110
$1,470
$1,760
FY 2026
$870
$880
$1,060
$1,490
$1,780
FY 2025
$810
$820
$1,020
$1,400
$1,710
FY 2024
$750
$770
$960
$1,340
$1,620
FY 2023
$650
$700
$900
$1,250
$1,530
Questions about New Ulm, MN rents
How much will Section 8 pay for a two-bedroom in New Ulm, MN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,230, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,107 to $1,353 a month; under the ZIP-level Small Area FMR of $1,110 it would be $999 to $1,221. 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 New Ulm, MN in?
New Ulm, MN is in the Mankato, MN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,230.
How much did fair market rent change in New Ulm, MN for FY 2027?
The two-bedroom FMR rose 4.7%, from $1,060 in FY 2026 to $1,110 in FY 2027. Since FY 2023 it has risen 23.3%.
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