FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR
0.86ratio
FMR$1,310
Market$1,530
vs market-$220
FMR is below market; voucher rent may lag private rents.
0.86
2 BR
2 BR
0.90ratio
FMR$1,600
Market$1,780
vs market-$180
FMR is below market; voucher rent may lag private rents.
0.90
3 BR
3 BR
0.92ratio
FMR$2,110
Market$2,300
vs market-$190
FMR is near market; voucher and private rents are aligned.
0.92
4 BR
4 BR
0.86ratio
FMR$2,360
Market$2,740
vs market-$380
FMR is below market; voucher rent may lag private rents.
0.86
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
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ZIP 55450 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55450 (Minneapolis, MN) is $1,600 a month. That is down 9.6% from $1,770 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, 55450 has the 63rd-highest two-bedroom rent (county range $1,540–$2,600). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55450 is 53% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 55450
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,290
$1,170
−9.3%
$1,053–$1,287
1BR
$1,450
$1,310
−9.7%
$1,179–$1,441
2BR
$1,770
$1,600
−9.6%
$1,440–$1,760
3BR
$2,340
$2,110
−9.8%
$1,899–$2,321
4BR
$2,620
$2,360
−9.9%
$2,124–$2,596
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 55450
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,170
$1,310
$1,600
$2,110
$2,360
FY 2026
$1,290
$1,450
$1,770
$2,340
$2,620
FY 2025
$1,060
$1,200
$1,460
$1,970
$2,240
FY 2024
$950
$1,080
$1,320
$1,780
$2,010
FY 2023
$840
$980
$1,200
$1,660
$1,940
Two-bedroom rent in nearby Hennepin County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 55450?
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 $1,600 it would be $1,440 to $1,760. 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 55450 in?
ZIP 55450 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 55450 for FY 2027?
The two-bedroom FMR fell 9.6%, from $1,770 in FY 2026 to $1,600 in FY 2027. Since FY 2023 it has risen 33.3%.
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