Skip to main content
Loading page
Olmsted County/Rochester/55901

55901

ZIPSAFMR
Olmsted County, MN
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$1,220$1,300
1 BR$1,270$1,170
2 BR$1,470$1,390
3 BR$2,040$1,850
4 BR$2,460$2,330
5 BR$2,829Not available
6 BR$3,253Not available
7 BR$3,741Not available
8 BR$4,303Not available

Purchase Price Calculator

Maximum purchase price
$144,637

Cost breakdown

+Likely effective rent$1,390
HUD FMR$1,470
Market rentUsed$1,390
Est. payment standard (96%)$1,420
-Principal and interest-$731
Loan amount$115,710
Down payment$28,927
Rate6.50%
Term30 years
-Operating costs-$459
Property taxes-$145
Insurance-$175
Utilities$0
HOA$0
Management-$139
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,467(77.7% ROI)
Projected value
$155,758
Return breakdown
Property appreciation+$11,121
Loan principal paid down+$4,146
Rental cash flow+$7,200
5-year hold
+$38,399(132.7% ROI)
Projected value
$163,643
Return breakdown
Property appreciation+$19,006
Loan principal paid down+$7,393
Rental cash flow+$12,000
10-year hold
+$82,126(283.9% ROI)
Projected value
$185,148
Return breakdown
Property appreciation+$40,511
Loan principal paid down+$17,615
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.90
1 BR
1.09
2 BR
1.06
3 BR
1.10
4 BR
1.06
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 55901 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55901 (Rochester, MN) is $1,470 a month. That is unchanged from FY 2026. Rochester is in the Rochester, MN 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 $1,422. Among 22 ZIP codes in Olmsted County, 55901 has the 3rd-highest two-bedroom rent (county range $1,270–$1,740). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55901 is 40% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55901
BedroomsFY 2027Change90–110% range
Studio$1,220+5.2%$1,098–$1,342
1BR$1,270+2.4%$1,143–$1,397
2BR$1,4700.0%$1,323–$1,617
3BR$2,0400.0%$1,836–$2,244
4BR$2,460−0.4%$2,214–$2,706

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55901
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,220$1,270$1,470$2,040$2,460
FY 2026$1,160$1,240$1,470$2,040$2,470
FY 2025$1,010$1,120$1,370$1,920$2,300
FY 2024$830$950$1,170$1,650$1,990
FY 2023$870$1,010$1,260$1,790$2,150

Two-bedroom rent in nearby Olmsted County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 55901
55901Current$1,470—
55902$1,740+18.4%
55903$1,440−2.0%
55904$1,410−4.1%
55905$1,440−2.0%
55906$1,270−13.6%
55920$1,270−13.6%
55923$1,270−13.6%
55929$1,270−13.6%
55932$1,270−13.6%
55934$1,270−13.6%
55940$1,270−13.6%

Questions about ZIP 55901 rents

How much will Section 8 pay for a two-bedroom in ZIP 55901?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,422, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,280 to $1,564 a month; under the ZIP-level Small Area FMR of $1,470 it would be $1,323 to $1,617. 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 55901 in?

ZIP 55901 is in the Rochester, MN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,422.

How much did fair market rent change in ZIP 55901 for FY 2027?

The two-bedroom FMR was unchanged at $1,470 in FY 2027. Since FY 2023 it has risen 16.7%.

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