FY2027 Small Area FMR · Minnetonka, MN

ZIP 55345 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55345 (Minnetonka, MN) is $1,910 a month, down 0.5% from FY2026. That is 10% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$1,910per month ▼ 0.5%

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

Rank in the area59thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,719

2 BR Small Area FMR$1,910

110% of SAFMR$2,101

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

Studio$1,390▼ 0.7%

1 BR$1,570▼ 0.6%

2 BR$1,910▼ 0.5%

3 BR$2,490▼ 2.0%

4 BR$2,800▼ 1.4%

FY2027 FY2026

Where 55345 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55345 has the 59th 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 $1,910 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	$1,390	$1,251 – $1,529	$1,265	$1,400
1 bedroom	$1,570	$1,413 – $1,727	$1,427	$1,580
2 bedrooms	$1,910	$1,719 – $2,101	$1,734	$1,920
3 bedrooms	$2,490	$2,241 – $2,739	$2,264	$2,540
4 bedrooms	$2,800	$2,520 – $3,080	$2,538	$2,840

A household renting a two-bedroom home at the Small Area FMR of $1,910 needs about $76,400 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 55345 lies mainly in 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	2.4 mi	$2,270
55343	Hopkins	3.3 mi	$1,890
55305	Hopkins	3.9 mi	$2,130
55391	Wayzata	4.0 mi	$1,960
55344	Eden Prairie	4.4 mi	$2,130
55317	Chanhassen	5.1 mi	$2,140

Questions

What is the Fair Market Rent for ZIP code 55345?

HUD's FY2027 Small Area Fair Market Rents for 55345 are $1,390 (studio), $1,570 (1 BR), $1,910 (2 BR), $2,490 (3 BR) and $2,800 (4 BR) a month.

What is the Section 8 payment standard in 55345?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55345 that range is $1,719 to $2,101 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55345?

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.