Dakota County/Saint Paul/55123

55123

ZIPSAFMR

Dakota County, MN

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ZIP Investment Score

79Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,400	$1,410	2.0%
1 BR	$1,580	$1,500	1.7%
2 BR	$1,920	$1,970	1.6%
3 BR	$2,510	$2,420	0.5%
4 BR	$2,810	$2,690	0.1%
5 BR	$3,231	Not available	0.1%
6 BR	$3,716	Not available	0.1%
7 BR	$4,274	Not available	0.1%
8 BR	$4,915	Not available	0.1%

Purchase Price Calculator

Maximum purchase price

$230,825

Cost breakdown

+Likely effective rent$1,970

HUD FMR$1,920

Market rent$2,000

Est. payment standard (103%)Used$1,970

-Principal and interest-$1,167

Loan amount$184,660

Down payment$46,165

Rate6.50%

Term30 years

-Operating costs-$603

Property taxes-$231

Insurance-$175

Utilities$0

HOA$0

Management-$197

=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

+$31,564(68.4% ROI)

Projected value

$248,573

Return breakdown

Property appreciation+$17,748

Loan principal paid down+$6,616

Rental cash flow+$7,200

5-year hold

+$54,130(117.3% ROI)

Projected value

$261,157

Return breakdown

Property appreciation+$30,332

Loan principal paid down+$11,798

Rental cash flow+$12,000

10-year hold

+$116,763(252.9% ROI)

Projected value

$295,475

Return breakdown

Property appreciation+$64,650

Loan principal paid down+$28,112

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.99ratio

FMR$1,400

Market$1,420

vs market-$20

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

0.99

1 BR

1.05ratio

FMR$1,580

Market$1,500

vs market+$80

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

1.05

2 BR

0.96ratio

FMR$1,920

Market$2,000

vs market-$80

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

0.96

3 BR

1.04ratio

FMR$2,510

Market$2,420

vs market+$90

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

1.04

4 BR

1.04ratio

FMR$2,810

Market$2,690

vs market+$120

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

1.04

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 55123 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55123 (Saint Paul, MN) is $1,920 a month. That is up 1.1% from $1,900 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, 55123 has the 7th-highest two-bedroom rent (county range $1,540–$2,170). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55123 is 83% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55123
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,380	$1,400	+1.4%	$1,260–$1,540
1BR	$1,560	$1,580	+1.3%	$1,422–$1,738
2BR	$1,900	$1,920	+1.1%	$1,728–$2,112
3BR	$2,510	$2,510	0.0%	$2,259–$2,761
4BR	$2,810	$2,810	0.0%	$2,529–$3,091

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55123
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,400	$1,580	$1,920	$2,510	$2,810
FY 2026	$1,380	$1,560	$1,900	$2,510	$2,810
FY 2025	$1,370	$1,550	$1,890	$2,520	$2,820
FY 2024	$1,320	$1,500	$1,830	$2,470	$2,800
FY 2023	$1,140	$1,300	$1,590	$2,160	$2,490

Two-bedroom rent in nearby Dakota County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 55123
55076	$1,650	−14.1%
55077	$1,800	−6.2%
55085	$1,540	−19.8%
55089	$1,730	−9.9%
55109	$1,640	−14.6%
55118	$1,620	−15.6%
55120	$1,870	−2.6%
55121	$1,960	+2.1%
55122	$1,840	−4.2%
55123Current	$1,920	—
55124	$2,040	+6.3%
55150	$1,540	−19.8%

Questions about ZIP 55123 rents

How much will Section 8 pay for a two-bedroom in ZIP 55123?

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 $1,920 it would be $1,728 to $2,112. 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 55123 in?

ZIP 55123 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 55123 for FY 2027?

The two-bedroom FMR rose 1.1%, from $1,900 in FY 2026 to $1,920 in FY 2027. Since FY 2023 it has risen 20.8%.

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

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