FMR is near market; voucher and private rents are aligned.
1.05
1 BR
1 BR- 55379
1.03ratio
FMR$1,560
Market$1,510
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.03
2 BR
2 BR- 55379
0.98ratio
FMR$1,890
Market$1,920
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR- 55379
1.10ratio
FMR$2,470
Market$2,250
vs market+$220
FMR is near market; voucher and private rents are aligned.
1.10
4 BR
4 BR- 55379
1.03ratio
FMR$2,770
Market$2,680
vs market+$90
FMR is near market; voucher and private rents are aligned.
1.03
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
--
Shakopee, MN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Shakopee, MN is $1,890 a month. That is up 1.6% from $1,860 in FY 2026. Shakopee 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 Shakopee is 80% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Shakopee, MN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,350
$1,380
+2.2%
$1,242–$1,518
1BR
$1,530
$1,560
+2.0%
$1,404–$1,716
2BR
$1,860
$1,890
+1.6%
$1,701–$2,079
3BR
$2,460
$2,470
+0.4%
$2,223–$2,717
4BR
$2,750
$2,770
+0.7%
$2,493–$3,047
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Shakopee, MN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,380
$1,560
$1,890
$2,470
$2,770
FY 2026
$1,350
$1,530
$1,860
$2,460
$2,750
FY 2025
$1,310
$1,480
$1,810
$2,410
$2,700
FY 2024
$1,260
$1,420
$1,740
$2,350
$2,660
FY 2023
$1,090
$1,250
$1,530
$2,080
$2,400
Questions about Shakopee, MN rents
How much will Section 8 pay for a two-bedroom in Shakopee, 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 $1,890 it would be $1,701 to $2,079. 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 Shakopee, MN in?
Shakopee, 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 Shakopee, MN for FY 2027?
The two-bedroom FMR rose 1.6%, from $1,860 in FY 2026 to $1,890 in FY 2027. Since FY 2023 it has risen 23.5%.
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