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Hennepin County/Hopkins/55305

55305

ZIPSAFMR
Hennepin County, MN
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$1,550$1,350
1 BR$1,750$1,530
2 BR$2,130$2,180
3 BR$2,780$2,390
4 BR$3,120$3,040
5 BR$3,588Not available
6 BR$4,126Not available
7 BR$4,745Not available
8 BR$5,457Not available

Purchase Price Calculator

Maximum purchase price
$262,031

Cost breakdown

+Likely effective rent$2,180
HUD FMR$2,130
Market rent$2,210
Est. payment standard (102%)Used$2,180
-Principal and interest-$1,325
Loan amount$209,624
Down payment$52,406
Rate6.50%
Term30 years
-Operating costs-$655
Property taxes-$262
Insurance-$175
Utilities$0
HOA$0
Management-$218
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,858(66.5% ROI)
Projected value
$282,178
Return breakdown
Property appreciation+$20,148
Loan principal paid down+$7,510
Rental cash flow+$7,200
5-year hold
+$59,826(114.2% ROI)
Projected value
$296,464
Return breakdown
Property appreciation+$34,433
Loan principal paid down+$13,393
Rental cash flow+$12,000
10-year hold
+$129,304(246.7% ROI)
Projected value
$335,421
Return breakdown
Property appreciation+$73,391
Loan principal paid down+$31,913
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.15
1 BR
1.14
2 BR
0.96
3 BR
1.16
4 BR
1.03
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 55305 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55305 (Hopkins, MN) is $2,130 a month. That is up 0.5% from $2,120 in FY 2026. Hopkins 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 83 ZIP codes in Hennepin County, 55305 is tied for the 15th-highest two-bedroom rent (county range $1,540–$2,600). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55305 is 103% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55305
BedroomsFY 2027Change90–110% range
Studio$1,550+0.6%$1,395–$1,705
1BR$1,750+0.6%$1,575–$1,925
2BR$2,130+0.5%$1,917–$2,343
3BR$2,780−1.1%$2,502–$3,058
4BR$3,120−0.6%$2,808–$3,432

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55305
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,550$1,750$2,130$2,780$3,120
FY 2026$1,540$1,740$2,120$2,810$3,140
FY 2025$1,480$1,670$2,040$2,720$3,040
FY 2024$1,480$1,680$2,050$2,770$3,130
FY 2023$1,300$1,480$1,820$2,470$2,850

Two-bedroom rent in nearby Hennepin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 55305
55305Current$2,130—
55311$2,240+5.2%
55316$1,950−8.5%
55317$2,140+0.5%
55323$1,790−16.0%
55327$1,560−26.8%
55328$1,540−27.7%
55331$1,540−27.7%
55340$1,880−11.7%
55341$1,560−26.8%
55343$1,890−11.3%
55344$2,1300.0%

Questions about ZIP 55305 rents

How much will Section 8 pay for a two-bedroom in ZIP 55305?

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 $2,130 it would be $1,917 to $2,343. 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 55305 in?

ZIP 55305 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 55305 for FY 2027?

The two-bedroom FMR rose 0.5%, from $2,120 in FY 2026 to $2,130 in FY 2027. Since FY 2023 it has risen 17.0%.

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