FMR is below market; voucher rent may lag private rents.
0.79
1 BR
1 BR- 56470
0.84ratio
FMR$780
Market$930
vs market-$150
FMR is below market; voucher rent may lag private rents.
0.84
2 BR
2 BR- 56470
1.03ratio
FMR$1,030
Market$1,000
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR- 56470
1.26ratio
FMR$1,410
Market$1,120
vs market+$290
FMR is above market; underwrite to market rent.
1.26
4 BR
4 BR- 56470
1.43ratio
FMR$1,700
Market$1,190
vs market+$510
FMR is above market; underwrite to market rent.
1.43
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
--
Park Rapids, MN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Park Rapids, MN is $1,030 a month. That is up 2.0% from $1,010 in FY 2026. Park Rapids is in the Clearwater County, MN non-metropolitan 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 county-wide two-bedroom FMR of $1,014. The median county two-bedroom FMR in Minnesota is $1,048, so Park Rapids is 2% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Park Rapids, MN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$700
$710
+1.4%
$639–$781
1BR
$770
$780
+1.3%
$702–$858
2BR
$1,010
$1,030
+2.0%
$927–$1,133
3BR
$1,390
$1,410
+1.4%
$1,269–$1,551
4BR
$1,630
$1,700
+4.3%
$1,530–$1,870
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Park Rapids, MN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$710
$780
$1,030
$1,410
$1,700
FY 2026
$700
$770
$1,010
$1,390
$1,630
FY 2025
$640
$730
$930
$1,270
$1,510
FY 2024area FMR
$634
$712
$936
$1,266
$1,450
FY 2023area FMR
$644
$648
$853
$1,212
$1,256
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Park Rapids, MN rents
How much will Section 8 pay for a two-bedroom in Park Rapids, MN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,030 it would be $927 to $1,133. 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 Park Rapids, MN in?
Park Rapids, MN is in the Clearwater County, MN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.
How much did fair market rent change in Park Rapids, MN for FY 2027?
The two-bedroom FMR rose 2.0%, from $1,010 in FY 2026 to $1,030 in FY 2027. Since FY 2025 it has risen 10.8%.
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