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Hennepin County/Minneapolis/55431

55431

ZIPSAFMR
Hennepin County, MN
Zillow

ZIP Investment Score

82Below average

095130300
BRFMR
Eff. Rent
0 BR$1,520$1,290
1 BR$1,720$1,300
2 BR$2,090$1,970
3 BR$2,730$2,270
4 BR$3,060$2,540
5 BR$3,519Not available
6 BR$4,047Not available
7 BR$4,654Not available
8 BR$5,352Not available

Purchase Price Calculator

Maximum purchase price
$230,825

Cost breakdown

+Likely effective rent$1,970
HUD FMR$2,090
Market rentUsed$1,970
Est. payment standard (96%)$2,010
-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

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

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Rolodex

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Market Alignment

Studio
1.18
1 BR
1.32
2 BR
1.06
3 BR
1.20
4 BR
1.20
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 55431 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55431 (Minneapolis, MN) is $2,090 a month. That is down 0.5% from $2,100 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, 55431 has the 18th-highest two-bedroom rent (county range $1,540–$2,600). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55431 is 99% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55431
BedroomsFY 2027Change90–110% range
Studio$1,520−0.7%$1,368–$1,672
1BR$1,720−0.6%$1,548–$1,892
2BR$2,090−0.5%$1,881–$2,299
3BR$2,730−1.8%$2,457–$3,003
4BR$3,060−1.6%$2,754–$3,366

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55431
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,520$1,720$2,090$2,730$3,060
FY 2026$1,530$1,730$2,100$2,780$3,110
FY 2025$1,510$1,700$2,080$2,770$3,100
FY 2024$1,420$1,600$1,960$2,640$2,990
FY 2023$1,210$1,390$1,700$2,310$2,660

Two-bedroom rent in nearby Hennepin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 55431
55424$2,290+9.6%
55425$1,840−12.0%
55426$1,830−12.4%
55427$1,780−14.8%
55428$1,580−24.4%
55429$1,540−26.3%
55430$1,660−20.6%
55431Current$2,090—
55435$2,130+1.9%
55436$2,180+4.3%
55437$1,940−7.2%
55438$1,870−10.5%

Questions about ZIP 55431 rents

How much will Section 8 pay for a two-bedroom in ZIP 55431?

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 $2,090 it would be $1,881 to $2,299. 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 55431 in?

ZIP 55431 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 55431 for FY 2027?

The two-bedroom FMR fell 0.5%, from $2,100 in FY 2026 to $2,090 in FY 2027. Since FY 2023 it has risen 22.9%.

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