FY2027 Small Area FMR · Mound, MN

ZIP 55364 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55364 (Mound, MN) is $1,580 a month, down 1.2% from FY2026. That is 9% below the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$1,580per month ▼ 1.2%

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

Rank in the area147thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,422

2 BR Small Area FMR$1,580

110% of SAFMR$1,738

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

Studio$1,150▼ 0.9%

1 BR$1,300▼ 1.5%

2 BR$1,580▼ 1.2%

3 BR$2,060▼ 2.8%

4 BR$2,310▼ 2.5%

FY2027 FY2026

Where 55364 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55364 has the 147th 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 $1,580 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	$1,150	$1,035 – $1,265	$1,265	$1,160
1 bedroom	$1,300	$1,170 – $1,430	$1,427	$1,320
2 bedrooms	$1,580	$1,422 – $1,738	$1,734	$1,600
3 bedrooms	$2,060	$1,854 – $2,266	$2,264	$2,120
4 bedrooms	$2,310	$2,079 – $2,541	$2,538	$2,370

A household renting a two-bedroom home at the Small Area FMR of $1,580 needs about $63,200 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 55364 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
55384	Spring Park	2.1 mi	$1,540
55375	Saint Bonifacius	2.9 mi	$1,540
55331	Excelsior	4.5 mi	$1,540
55359	Maple Plain	4.9 mi	$1,540
55386	Victoria	5.1 mi	$2,600
55356	Long Lake	5.8 mi	$2,220

Questions

What is the Fair Market Rent for ZIP code 55364?

HUD's FY2027 Small Area Fair Market Rents for 55364 are $1,150 (studio), $1,300 (1 BR), $1,580 (2 BR), $2,060 (3 BR) and $2,310 (4 BR) a month.

What is the Section 8 payment standard in 55364?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55364 that range is $1,422 to $1,738 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55364?

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.