FY2027 Small Area FMR · Lester Prairie, MN

ZIP 55354 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55354 (Lester Prairie, MN) is $1,010 a month, up 4.1% from FY2026. That is 6% below the McLeod County, MN area-wide FMR of $1,073.

2-bedroom SAFMR$1,010per month ▲ 4.1%

Area-wide 2 BR FMR$1,073McLeod County, MN

Rank in the area16thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$830▲ 3.8%

1 BR$900▲ 7.1%

2 BR$1,010▲ 4.1%

3 BR$1,210▲ 3.4%

4 BR$1,520▼ 6.7%

FY2027 FY2026

Where 55354 sits in the McLeod County, MN area

Of the 18 ZIP codes HUD lists for the area, 55354 has the 16th highest two-bedroom Small Area FMR. McLeod County, MN 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 $1,073 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,010 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	$830	$747 – $913	$882	$800
1 bedroom	$900	$810 – $990	$951	$840
2 bedrooms	$1,010	$909 – $1,111	$1,073	$970
3 bedrooms	$1,210	$1,089 – $1,331	$1,278	$1,170
4 bedrooms	$1,520	$1,368 – $1,672	$1,593	$1,630

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 a year to keep housing costs at 30% of income. The area median family income is $107,300 and the 80% low-income limit for four people is $85,850. ZIP code 55354 lies mainly in McLeod County. See the McLeod County, MN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
55367	New Germany	4.3 mi	$1,540
55395	Winsted	5.1 mi	$1,540
55397	Young America	7.2 mi	$1,540
55370	Plato	7.2 mi	$1,150
55360	Mayer	7.4 mi	$1,750
55381	Silver Lake	7.6 mi	$1,540

Questions

What is the Fair Market Rent for ZIP code 55354?

HUD's FY2027 Small Area Fair Market Rents for 55354 are $830 (studio), $900 (1 BR), $1,010 (2 BR), $1,210 (3 BR) and $1,520 (4 BR) a month.

What is the Section 8 payment standard in 55354?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55354 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55354?

The FY2026 income limits of the McLeod County, MN area apply: median family income $107,300, low-income (80%) limit $85,850 for a family of four.