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Fillmore County/Racine/55967

55967

ZIPSAFMR
Fillmore County, MN
Zillow

ZIP Investment Score

73Below average

095130300
BRFMR
Eff. Rent
0 BR$1,040$1,040
1 BR$1,150$1,150
2 BR$1,500$1,500
3 BR$2,000$2,000
4 BR$2,010$2,010
5 BR$2,312Not available
6 BR$2,658Not available
7 BR$3,057Not available
8 BR$3,516Not available

Purchase Price Calculator

Maximum purchase price
$160,983

Cost breakdown

+Likely effective rent$1,500
HUD FMRUsed$1,500
Market rentN/A
Est. payment standardN/A
-Principal and interest-$814
Loan amount$128,786
Down payment$32,197
Rate6.50%
Term30 years
-Operating costs-$486
Property taxes-$161
Insurance-$175
Utilities$0
HOA$0
Management-$150
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,192(75.1% ROI)
Projected value
$173,361
Return breakdown
Property appreciation+$12,378
Loan principal paid down+$4,614
Rental cash flow+$7,200
5-year hold
+$41,383(128.5% ROI)
Projected value
$182,137
Return breakdown
Property appreciation+$21,154
Loan principal paid down+$8,228
Rental cash flow+$12,000
10-year hold
+$88,695(275.5% ROI)
Projected value
$206,072
Return breakdown
Property appreciation+$45,089
Loan principal paid down+$19,606
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 55967 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55967 (Racine, MN) is $1,500 a month. That is up 3.4% from $1,450 in FY 2026. Racine is in the Fillmore County, 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 $1,014. Among 17 ZIP codes in Fillmore County, 55967 has the highest two-bedroom rent (county range $1,010–$1,500). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55967 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55967
BedroomsFY 2027Change90–110% range
Studio$1,040+4.0%$936–$1,144
1BR$1,150+3.6%$1,035–$1,265
2BR$1,500+3.4%$1,350–$1,650
3BR$2,000+7.0%$1,800–$2,200
4BR$2,010−0.5%$1,809–$2,211

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55967
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,150$1,500$2,000$2,010
FY 2026$1,000$1,110$1,450$1,870$2,020
FY 2025$910$1,010$1,330$1,680$1,770
FY 2024$690$690$910$1,240$1,450
FY 2023$660$660$870$1,180$1,320

Two-bedroom rent in nearby Fillmore County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 55967
55949$1,010−32.7%
55951$1,010−32.7%
55954$1,050−30.0%
55961$1,100−26.7%
55962$1,090−27.3%
55965$1,010−32.7%
55967Current$1,500—
55971$1,110−26.0%
55974$1,240−17.3%
55975$1,190−20.7%
55976$1,270−15.3%
55979$1,410−6.0%

Questions about ZIP 55967 rents

How much will Section 8 pay for a two-bedroom in ZIP 55967?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,500 it would be $1,350 to $1,650. 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 55967 in?

ZIP 55967 is in the Fillmore County, MN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 55967 for FY 2027?

The two-bedroom FMR rose 3.4%, from $1,450 in FY 2026 to $1,500 in FY 2027. Since FY 2023 it has risen 72.4%.

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