Scott County/Lakeville/55044

55044

ZIPSAFMR

Scott County, MN

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ZIP Investment Score

77Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,580	$1,560	2.4%
1 BR	$1,790	$1,540	2.5%
2 BR	$2,170	$1,990	2.2%
3 BR	$2,830	$2,360	1.1%
4 BR	$3,180	$2,820	0.9%
5 BR	$3,657	Not available	0.9%
6 BR	$4,206	Not available	0.9%
7 BR	$4,836	Not available	0.8%
8 BR	$5,562	Not available	0.9%

Purchase Price Calculator

Maximum purchase price

$233,797

Cost breakdown

+Likely effective rent$1,990

HUD FMR$2,170

Market rentUsed$1,990

Est. payment standard (95%)$2,050

-Principal and interest-$1,182

Loan amount$187,037

Down payment$46,759

Rate6.50%

Term30 years

-Operating costs-$608

Property taxes-$234

Insurance-$175

Utilities$0

HOA$0

Management-$199

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$31,878(68.2% ROI)

Projected value

$251,773

Return breakdown

Property appreciation+$17,977

Loan principal paid down+$6,701

Rental cash flow+$7,200

5-year hold

+$54,673(116.9% ROI)

Projected value

$264,519

Return breakdown

Property appreciation+$30,723

Loan principal paid down+$11,950

Rental cash flow+$12,000

10-year hold

+$117,957(252.3% ROI)

Projected value

$299,280

Return breakdown

Property appreciation+$65,483

Loan principal paid down+$28,474

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.01ratio

FMR$1,580

Market$1,560

vs market+$20

FMR is near market; voucher and private rents are aligned.

1.01

1 BR

1.16ratio

FMR$1,790

Market$1,540

vs market+$250

FMR is above market; underwrite to market rent.

1.16

2 BR

1.09ratio

FMR$2,170

Market$1,990

vs market+$180

FMR is near market; voucher and private rents are aligned.

1.09

3 BR

1.20ratio

FMR$2,830

Market$2,360

vs market+$470

FMR is above market; underwrite to market rent.

1.20

4 BR

1.13ratio

FMR$3,180

Market$2,820

vs market+$360

FMR is above market; underwrite to market rent.

1.13

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: --

ZIP 55044 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55044 (Lakeville, MN) is $2,170 a month. That is down 0.5% from $2,180 in FY 2026. Lakeville 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. Among 12 ZIP codes in Scott County, 55044 has the 2nd-highest two-bedroom rent (county range $1,540–$2,530). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55044 is 107% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55044
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,580	$1,580	0.0%	$1,422–$1,738
1BR	$1,790	$1,790	0.0%	$1,611–$1,969
2BR	$2,180	$2,170	−0.5%	$1,953–$2,387
3BR	$2,890	$2,830	−2.1%	$2,547–$3,113
4BR	$3,230	$3,180	−1.5%	$2,862–$3,498

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55044
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,580	$1,790	$2,170	$2,830	$3,180
FY 2026	$1,580	$1,790	$2,180	$2,890	$3,230
FY 2025	$1,550	$1,750	$2,140	$2,850	$3,190
FY 2024	$1,470	$1,660	$2,030	$2,740	$3,100
FY 2023	$1,240	$1,420	$1,740	$2,360	$2,730

Two-bedroom rent in nearby Scott County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 55044
55020	$2,150	−0.9%
55044Current	$2,170	—
55054	$2,530	+16.6%
55088	$1,540	−29.0%
55337	$1,870	−13.8%
55352	$1,540	−29.0%
55372	$1,750	−19.4%
55378	$2,030	−6.5%
55379	$1,890	−12.9%
56011	$1,610	−25.8%
56044	$1,540	−29.0%
56071	$1,550	−28.6%

Questions about ZIP 55044 rents

How much will Section 8 pay for a two-bedroom in ZIP 55044?

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 $2,170 it would be $1,953 to $2,387. 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 ZIP 55044 in?

ZIP 55044 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 ZIP 55044 for FY 2027?

The two-bedroom FMR fell 0.5%, from $2,180 in FY 2026 to $2,170 in FY 2027. Since FY 2023 it has risen 24.7%.

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

County fair market rent Lakeville, MN fair market rent MN statewide rents What is SAFMR?Data sources