Dakota County/Saint Paul/55120

55120

ZIPSAFMR

Dakota County, MN

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ZIP Investment Score

71Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,360	$1,120	11.5%
1 BR	$1,540	$1,550	11.5%
2 BR	$1,870	$1,830	11.2%
3 BR	$2,440	$2,320	10.1%
4 BR	$2,740	$2,840	9.6%
5 BR	$3,151	Not available	9.6%
6 BR	$3,624	Not available	9.6%
7 BR	$4,167	Not available	9.6%
8 BR	$4,792	Not available	9.6%

Purchase Price Calculator

Maximum purchase price

$210,021

Cost breakdown

+Likely effective rent$1,830

HUD FMR$1,870

Market rentUsed$1,830

Est. payment standard (99%)$1,840

-Principal and interest-$1,062

Loan amount$168,017

Down payment$42,004

Rate6.50%

Term30 years

-Operating costs-$568

Property taxes-$210

Insurance-$175

Utilities$0

HOA$0

Management-$183

=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

+$29,368(69.9% ROI)

Projected value

$226,169

Return breakdown

Property appreciation+$16,149

Loan principal paid down+$6,020

Rental cash flow+$7,200

5-year hold

+$50,333(119.8% ROI)

Projected value

$237,619

Return breakdown

Property appreciation+$27,598

Loan principal paid down+$10,735

Rental cash flow+$12,000

10-year hold

+$108,402(258.1% ROI)

Projected value

$268,844

Return breakdown

Property appreciation+$58,824

Loan principal paid down+$25,579

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.21ratio

FMR$1,360

Market$1,120

vs market+$240

FMR is above market; underwrite to market rent.

1.21

1 BR

0.99ratio

FMR$1,540

Market$1,550

vs market-$10

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

0.99

2 BR

1.02ratio

FMR$1,870

Market$1,830

vs market+$40

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

1.02

3 BR

1.05ratio

FMR$2,440

Market$2,320

vs market+$120

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

1.05

4 BR

0.94ratio

FMR$2,740

Market$2,900

vs market-$160

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

0.94

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 55120 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55120 (Saint Paul, MN) is $1,870 a month. That is up 23.0% from $1,520 in FY 2026. Saint Paul 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 27 ZIP codes in Dakota County, 55120 is tied for the 9th-highest two-bedroom rent (county range $1,540–$2,170). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55120 is 78% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55120
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,100	$1,360	+23.6%	$1,224–$1,496
1BR	$1,250	$1,540	+23.2%	$1,386–$1,694
2BR	$1,520	$1,870	+23.0%	$1,683–$2,057
3BR	$2,020	$2,440	+20.8%	$2,196–$2,684
4BR	$2,270	$2,740	+20.7%	$2,466–$3,014

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55120
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,360	$1,540	$1,870	$2,440	$2,740
FY 2026	$1,100	$1,250	$1,520	$2,020	$2,270
FY 2025	$1,060	$1,200	$1,460	$1,970	$2,240
FY 2024	$980	$1,110	$1,360	$1,830	$2,080
FY 2023	$960	$1,100	$1,350	$1,830	$2,120

Two-bedroom rent in nearby Dakota County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 55120
55076	$1,650	−11.8%
55077	$1,800	−3.7%
55085	$1,540	−17.6%
55089	$1,730	−7.5%
55109	$1,640	−12.3%
55118	$1,620	−13.4%
55120Current	$1,870	—
55121	$1,960	+4.8%
55122	$1,840	−1.6%
55123	$1,920	+2.7%
55124	$2,040	+9.1%
55150	$1,540	−17.6%

Questions about ZIP 55120 rents

How much will Section 8 pay for a two-bedroom in ZIP 55120?

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 $1,870 it would be $1,683 to $2,057. 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 55120 in?

ZIP 55120 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 55120 for FY 2027?

The two-bedroom FMR rose 23.0%, from $1,520 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 38.5%.

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

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