FY2027 Small Area FMR · Eden Prairie, MN

ZIP 55347 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55347 (Eden Prairie, MN) is $2,390 a month, up 0.8% from FY2026. That is 38% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$2,390per month ▲ 0.8%

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

Rank in the area8thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,151

2 BR Small Area FMR$2,390

110% of SAFMR$2,629

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

Studio$1,740▲ 1.2%

1 BR$1,970▲ 1.0%

2 BR$2,390▲ 0.8%

3 BR$3,120▼ 0.6%

4 BR$3,500▼ 0.3%

FY2027 FY2026

Where 55347 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55347 has the 8th 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 $2,390 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	$1,740	$1,566 – $1,914	$1,265	$1,720
1 bedroom	$1,970	$1,773 – $2,167	$1,427	$1,950
2 bedrooms	$2,390	$2,151 – $2,629	$1,734	$2,370
3 bedrooms	$3,120	$2,808 – $3,432	$2,264	$3,140
4 bedrooms	$3,500	$3,150 – $3,850	$2,538	$3,510

A household renting a two-bedroom home at the Small Area FMR of $2,390 needs about $95,600 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 55347 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
55344	Eden Prairie	2.9 mi	$2,130
55438	Minneapolis	3.7 mi	$1,870
55346	Eden Prairie	3.8 mi	$2,270
55317	Chanhassen	4.8 mi	$2,140
55439	Minneapolis	5.4 mi	$1,990
55437	Minneapolis	5.9 mi	$1,940

Questions

What is the Fair Market Rent for ZIP code 55347?

HUD's FY2027 Small Area Fair Market Rents for 55347 are $1,740 (studio), $1,970 (1 BR), $2,390 (2 BR), $3,120 (3 BR) and $3,500 (4 BR) a month.

What is the Section 8 payment standard in 55347?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55347 that range is $2,151 to $2,629 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55347?

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.