FY2027 Small Area FMR · Saint Paul, MN

ZIP 55121 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55121 (Saint Paul, MN) is $1,960 a month, up 4.3% from FY2026. That is 13% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$1,960per month ▲ 4.3%

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

Rank in the area48thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,764

2 BR Small Area FMR$1,960

110% of SAFMR$2,156

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

Studio$1,430▲ 4.4%

1 BR$1,610▲ 3.9%

2 BR$1,960▲ 4.3%

3 BR$2,560▲ 2.8%

4 BR$2,870▲ 3.2%

FY2027 FY2026

Where 55121 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55121 has the 48th 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 $1,960 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	$1,430	$1,287 – $1,573	$1,265	$1,370
1 bedroom	$1,610	$1,449 – $1,771	$1,427	$1,550
2 bedrooms	$1,960	$1,764 – $2,156	$1,734	$1,880
3 bedrooms	$2,560	$2,304 – $2,816	$2,264	$2,490
4 bedrooms	$2,870	$2,583 – $3,157	$2,538	$2,780

A household renting a two-bedroom home at the Small Area FMR of $1,960 needs about $78,400 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 55121 lies mainly in Dakota 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
55120	Saint Paul	2.0 mi	$1,870
55123	Saint Paul	2.7 mi	$1,920
55150	Mendota	2.8 mi	$1,540
55111	Saint Paul	3.0 mi	$1,540
55122	Saint Paul	3.4 mi	$1,840
55425	Minneapolis	3.5 mi	$1,840

Questions

What is the Fair Market Rent for ZIP code 55121?

HUD's FY2027 Small Area Fair Market Rents for 55121 are $1,430 (studio), $1,610 (1 BR), $1,960 (2 BR), $2,560 (3 BR) and $2,870 (4 BR) a month.

What is the Section 8 payment standard in 55121?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55121 that range is $1,764 to $2,156 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55121?

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.