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Dakota County/Saint Paul/55121

55121

ZIPSAFMR
Dakota County, MN
Zillow

ZIP Investment Score

116Above average

095130300
BRFMR
Eff. Rent
0 BR$1,430$1,410
1 BR$1,610$1,540
2 BR$1,960$2,030
3 BR$2,560$2,510
4 BR$2,870$2,890
5 BR$3,300Not available
6 BR$3,796Not available
7 BR$4,365Not available
8 BR$5,020Not available

Purchase Price Calculator

Maximum purchase price
$239,741

Cost breakdown

+Likely effective rent$2,030
HUD FMR$1,960
Market rent$2,060
Est. payment standard (103%)Used$2,030
-Principal and interest-$1,212
Loan amount$191,793
Down payment$47,948
Rate6.50%
Term30 years
-Operating costs-$618
Property taxes-$240
Insurance-$175
Utilities$0
HOA$0
Management-$203
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,505(67.8% ROI)
Projected value
$258,174
Return breakdown
Property appreciation+$18,434
Loan principal paid down+$6,871
Rental cash flow+$7,200
5-year hold
+$55,758(116.3% ROI)
Projected value
$271,245
Return breakdown
Property appreciation+$31,504
Loan principal paid down+$12,254
Rental cash flow+$12,000
10-year hold
+$120,346(251.0% ROI)
Projected value
$306,888
Return breakdown
Property appreciation+$67,148
Loan principal paid down+$29,198
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.01
1 BR
1.05
2 BR
0.95
3 BR
1.02
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 55121 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55121 (Saint Paul, MN) is $1,960 a month. That is up 4.3% from $1,880 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, 55121 is tied for the 4th-highest two-bedroom rent (county range $1,540–$2,170). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55121 is 87% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55121
BedroomsFY 2027Change90–110% range
Studio$1,430+4.4%$1,287–$1,573
1BR$1,610+3.9%$1,449–$1,771
2BR$1,960+4.3%$1,764–$2,156
3BR$2,560+2.8%$2,304–$2,816
4BR$2,870+3.2%$2,583–$3,157

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55121
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,430$1,610$1,960$2,560$2,870
FY 2026$1,370$1,550$1,880$2,490$2,780
FY 2025$1,320$1,490$1,820$2,420$2,710
FY 2024$1,250$1,410$1,720$2,320$2,630
FY 2023$1,060$1,210$1,480$2,010$2,320

Two-bedroom rent in nearby Dakota County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 55121
55076$1,650−15.8%
55077$1,800−8.2%
55085$1,540−21.4%
55089$1,730−11.7%
55109$1,640−16.3%
55118$1,620−17.3%
55120$1,870−4.6%
55121Current$1,960—
55122$1,840−6.1%
55123$1,920−2.0%
55124$2,040+4.1%
55150$1,540−21.4%

Questions about ZIP 55121 rents

How much will Section 8 pay for a two-bedroom in ZIP 55121?

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 $1,960 it would be $1,764 to $2,156. 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 55121 in?

ZIP 55121 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 55121 for FY 2027?

The two-bedroom FMR rose 4.3%, from $1,880 in FY 2026 to $1,960 in FY 2027. Since FY 2023 it has risen 32.4%.

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 rentSaint Paul, MN fair market rentMN statewide rentsWhat is SAFMR?Data sources