FMR is near market; voucher and private rents are aligned.
0.92
1 BR
1 BR
0.94ratio
FMR$1,470
Market$1,560
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR
0.94ratio
FMR$1,790
Market$1,910
vs market-$120
FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR
1.02ratio
FMR$2,340
Market$2,290
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.02
4 BR
4 BR
0.90ratio
FMR$2,620
Market$2,910
vs market-$290
FMR is near market; voucher and private rents are aligned.
0.90
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 55474 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55474 (Minneapolis, MN) is $1,790 a month. 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, 55474 is tied for the 39th-highest two-bedroom rent (county range $1,540–$2,600). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55474 is 71% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 55474
Bedrooms
FY 2027
90–110% range
Studio
$1,310
$1,179–$1,441
1BR
$1,470
$1,323–$1,617
2BR
$1,790
$1,611–$1,969
3BR
$2,340
$2,106–$2,574
4BR
$2,620
$2,358–$2,882
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 55474
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,310
$1,470
$1,790
$2,340
$2,620
FY 2026area FMR
$1,242
$1,405
$1,709
$2,262
$2,531
FY 2025area FMR
$1,220
$1,381
$1,685
$2,244
$2,513
FY 2024area FMR
$1,174
$1,327
$1,622
$2,188
$2,478
FY 2023area FMR
$1,007
$1,149
$1,410
$1,916
$2,209
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Hennepin County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 55474?
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 $1,790 it would be $1,611 to $1,969. 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 55474 in?
ZIP 55474 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.
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