FY2027 Small Area FMR · Lakeville, MN

ZIP 55044 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55044 (Lakeville, MN) is $2,170 a month, down 0.5% from FY2026. That is 25% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$2,170per month ▼ 0.5%

Area-wide 2 BR FMR$1,734Minneapolis-St. Paul-Bloomin

Rank in the area21stof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,953

2 BR Small Area FMR$2,170

110% of SAFMR$2,387

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,580■ 0.0%

1 BR$1,790■ 0.0%

2 BR$2,170▼ 0.5%

3 BR$2,830▼ 2.1%

4 BR$3,180▼ 1.5%

FY2027 FY2026

Where 55044 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55044 has the 21st highest two-bedroom Small Area FMR. Minneapolis-St. Paul-Bloomington, MN-WI is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,734 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,170 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,580	$1,422 – $1,738	$1,265	$1,580
1 bedroom	$1,790	$1,611 – $1,969	$1,427	$1,790
2 bedrooms	$2,170	$1,953 – $2,387	$1,734	$2,180
3 bedrooms	$2,830	$2,547 – $3,113	$2,264	$2,890
4 bedrooms	$3,180	$2,862 – $3,498	$2,538	$3,230

A household renting a two-bedroom home at the Small Area FMR of $2,170 needs about $86,800 a year to keep housing costs at 30% of income. The area median family income is $131,500 and the 80% low-income limit for four people is $105,200. ZIP code 55044 lies mainly in Dakota County and Scott County. See the Minneapolis-St. Paul-Bloomington, MN-WI metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
55054	Elko New Market	6.2 mi	$2,530
55306	Burnsville	6.2 mi	$1,940
55020	Elko New Market	6.6 mi	$2,150
55372	Prior Lake	7.3 mi	$1,750
55024	Farmington	7.5 mi	$1,740
55124	Saint Paul	8.1 mi	$2,040

Questions

What is the Fair Market Rent for ZIP code 55044?

HUD's FY2027 Small Area Fair Market Rents for 55044 are $1,580 (studio), $1,790 (1 BR), $2,170 (2 BR), $2,830 (3 BR) and $3,180 (4 BR) a month.

What is the Section 8 payment standard in 55044?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55044 that range is $1,953 to $2,387 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55044?

The FY2026 income limits of the Minneapolis-St. Paul-Bloomington, MN-WI area apply: median family income $131,500, low-income (80%) limit $105,200 for a family of four.