FY2027 Small Area FMR · Chanhassen, MN

ZIP 55317 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55317 (Chanhassen, MN) is $2,140 a month, up 1.4% from FY2026. That is 23% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$2,140per month ▲ 1.4%

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

Rank in the area24thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,926

2 BR Small Area FMR$2,140

110% of SAFMR$2,354

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

Studio$1,560▲ 2.0%

1 BR$1,760▲ 1.7%

2 BR$2,140▲ 1.4%

3 BR$2,790■ 0.0%

4 BR$3,130▲ 0.3%

FY2027 FY2026

Where 55317 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55317 has the 24th 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 $2,140 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	$1,560	$1,404 – $1,716	$1,265	$1,530
1 bedroom	$1,760	$1,584 – $1,936	$1,427	$1,730
2 bedrooms	$2,140	$1,926 – $2,354	$1,734	$2,110
3 bedrooms	$2,790	$2,511 – $3,069	$2,264	$2,790
4 bedrooms	$3,130	$2,817 – $3,443	$2,538	$3,120

A household renting a two-bedroom home at the Small Area FMR of $2,140 needs about $85,600 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 55317 lies mainly in Carver County and Hennepin 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
55346	Eden Prairie	3.7 mi	$2,270
55331	Excelsior	3.8 mi	$1,540
55347	Eden Prairie	4.8 mi	$2,390
55345	Minnetonka	5.1 mi	$1,910
55318	Chaska	5.4 mi	$1,790
55386	Victoria	5.7 mi	$2,600

Questions

What is the Fair Market Rent for ZIP code 55317?

HUD's FY2027 Small Area Fair Market Rents for 55317 are $1,560 (studio), $1,760 (1 BR), $2,140 (2 BR), $2,790 (3 BR) and $3,130 (4 BR) a month.

What is the Section 8 payment standard in 55317?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55317 that range is $1,926 to $2,354 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55317?

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.