FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR
0.85ratio
FMR$920
Market$1,080
vs market-$160
FMR is below market; voucher rent may lag private rents.
0.85
2 BR
2 BR
1.05ratio
FMR$1,160
Market$1,110
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.05
3 BR
3 BR
1.27ratio
FMR$1,500
Market$1,180
vs market+$320
FMR is above market; underwrite to market rent.
1.27
4 BR
4 BR
1.33ratio
FMR$1,630
Market$1,230
vs market+$400
FMR is above market; underwrite to market rent.
1.33
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 55745 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55745 (Grand Rapids, MN) is $1,160 a month. That is up 8.4% from $1,070 in FY 2026. Grand Rapids is in the Itasca County, MN non-metropolitan 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 county-wide two-bedroom FMR of $1,164. Among 33 ZIP codes in Itasca County, 55745 is tied for the 9th-highest two-bedroom rent (county range $1,010–$1,600). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55745 is 11% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 55745
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$750
$810
+8.0%
$729–$891
1BR
$860
$920
+7.0%
$828–$1,012
2BR
$1,070
$1,160
+8.4%
$1,044–$1,276
3BR
$1,400
$1,500
+7.1%
$1,350–$1,650
4BR
$1,510
$1,630
+7.9%
$1,467–$1,793
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 55745
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$810
$920
$1,160
$1,500
$1,630
FY 2026
$750
$860
$1,070
$1,400
$1,510
FY 2025
$750
$800
$1,010
$1,270
$1,400
FY 2024area FMR
$811
$817
$1,059
$1,280
$1,431
FY 2023area FMR
$723
$728
$958
$1,166
$1,287
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Itasca County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 55745?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,164, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,048 to $1,280 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. 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 55745 in?
ZIP 55745 is in the Itasca County, MN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,164.
How much did fair market rent change in ZIP 55745 for FY 2027?
The two-bedroom FMR rose 8.4%, from $1,070 in FY 2026 to $1,160 in FY 2027. Since FY 2025 it has risen 14.9%.
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