Skip to main content
Loading page
Hennepin County/Minneapolis/55412

55412

ZIPSAFMR
Hennepin County, MN
Zillow

ZIP Investment Score

108Above average

095130300
BRFMR
Eff. Rent
0 BR$1,290$1,100
1 BR$1,460$1,350
2 BR$1,770$1,770
3 BR$2,310$1,900
4 BR$2,590$2,480
5 BR$2,978Not available
6 BR$3,425Not available
7 BR$3,939Not available
8 BR$4,530Not available

Purchase Price Calculator

Maximum purchase price
$201,105

Cost breakdown

+Likely effective rent$1,770
HUD FMRUsed$1,770
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,017
Loan amount$160,884
Down payment$40,221
Rate6.50%
Term30 years
-Operating costs-$553
Property taxes-$201
Insurance-$175
Utilities$0
HOA$0
Management-$177
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,427(70.7% ROI)
Projected value
$216,568
Return breakdown
Property appreciation+$15,463
Loan principal paid down+$5,764
Rental cash flow+$7,200
5-year hold
+$48,706(121.1% ROI)
Projected value
$227,532
Return breakdown
Property appreciation+$26,427
Loan principal paid down+$10,279
Rental cash flow+$12,000
10-year hold
+$104,819(260.6% ROI)
Projected value
$257,431
Return breakdown
Property appreciation+$56,326
Loan principal paid down+$24,493
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.17
1 BR
1.08
3 BR
1.22
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 55412 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55412 (Minneapolis, MN) is $1,770 a month. That is up 0.6% from $1,760 in FY 2026. Minneapolis 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, 55412 has the 48th-highest two-bedroom rent (county range $1,540–$2,600). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55412 is 69% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55412
BedroomsFY 2027Change90–110% range
Studio$1,290+0.8%$1,161–$1,419
1BR$1,460+0.7%$1,314–$1,606
2BR$1,770+0.6%$1,593–$1,947
3BR$2,310−0.9%$2,079–$2,541
4BR$2,590−0.8%$2,331–$2,849

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55412
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,290$1,460$1,770$2,310$2,590
FY 2026$1,280$1,450$1,760$2,330$2,610
FY 2025$1,300$1,470$1,790$2,380$2,670
FY 2024$1,250$1,410$1,720$2,320$2,630
FY 2023$1,080$1,230$1,510$2,050$2,370

Two-bedroom rent in nearby Hennepin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 55412
55406$1,710−3.4%
55407$1,560−11.9%
55408$1,980+11.9%
55409$1,650−6.8%
55410$2,040+15.3%
55411$1,690−4.5%
55412Current$1,770—
55413$1,950+10.2%
55414$1,700−4.0%
55415$2,400+35.6%
55416$2,280+28.8%
55417$1,720−2.8%

Questions about ZIP 55412 rents

How much will Section 8 pay for a two-bedroom in ZIP 55412?

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 $1,770 it would be $1,593 to $1,947. 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 55412 in?

ZIP 55412 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 55412 for FY 2027?

The two-bedroom FMR rose 0.6%, from $1,760 in FY 2026 to $1,770 in FY 2027. Since FY 2023 it has risen 17.2%.

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