FY2027 Small Area FMR · Andover, MN

ZIP 55304 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55304 (Andover, MN) is $2,000 a month, down 3.8% from FY2026. That is 15% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$2,000per month ▼ 3.8%

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

Rank in the area43rdof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,800

2 BR Small Area FMR$2,000

110% of SAFMR$2,200

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

Studio$1,460▼ 3.3%

1 BR$1,650▼ 3.5%

2 BR$2,000▼ 3.8%

3 BR$2,610▼ 5.1%

4 BR$2,930▼ 4.9%

FY2027 FY2026

Where 55304 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55304 has the 43rd 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 $2,000 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	$1,460	$1,314 – $1,606	$1,265	$1,510
1 bedroom	$1,650	$1,485 – $1,815	$1,427	$1,710
2 bedrooms	$2,000	$1,800 – $2,200	$1,734	$2,080
3 bedrooms	$2,610	$2,349 – $2,871	$2,264	$2,750
4 bedrooms	$2,930	$2,637 – $3,223	$2,538	$3,080

A household renting a two-bedroom home at the Small Area FMR of $2,000 needs about $80,000 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 55304 lies mainly in Anoka 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
55448	Minneapolis	3.9 mi	$2,070
55434	Minneapolis	5.9 mi	$2,100
55433	Minneapolis	6.3 mi	$1,710
55011	Cedar	6.5 mi	$2,180
55449	Minneapolis	6.6 mi	$2,100
55316	Champlin	7.5 mi	$1,950

Questions

What is the Fair Market Rent for ZIP code 55304?

HUD's FY2027 Small Area Fair Market Rents for 55304 are $1,460 (studio), $1,650 (1 BR), $2,000 (2 BR), $2,610 (3 BR) and $2,930 (4 BR) a month.

What is the Section 8 payment standard in 55304?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55304 that range is $1,800 to $2,200 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55304?

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.