FY2027 Small Area FMR · Plato, MN

ZIP 55370 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55370 (Plato, MN) is $1,150 a month, up 7.5% from FY2026. That is 7% above the McLeod County, MN area-wide FMR of $1,073.

2-bedroom SAFMR$1,150per month ▲ 7.5%

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

Rank in the area9thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,035

2 BR Small Area FMR$1,150

110% of SAFMR$1,265

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

Studio$900▲ 7.1%

1 BR$990▲ 8.8%

2 BR$1,150▲ 7.5%

3 BR$1,430▲ 6.7%

4 BR$1,710▲ 0.6%

FY2027 FY2026

Where 55370 sits in the McLeod County, MN area

Of the 18 ZIP codes HUD lists for the area, 55370 has the 9th 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 $1,150 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	$900	$810 – $990	$882	$840
1 bedroom	$990	$891 – $1,089	$951	$910
2 bedrooms	$1,150	$1,035 – $1,265	$1,073	$1,070
3 bedrooms	$1,430	$1,287 – $1,573	$1,278	$1,340
4 bedrooms	$1,710	$1,539 – $1,881	$1,593	$1,700

A household renting a two-bedroom home at the Small Area FMR of $1,150 needs about $46,000 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 55370 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
55339	Hamburg	5.4 mi	$1,540
55397	Young America	5.8 mi	$1,540
55368	Norwood Young America	7.2 mi	$1,550
55354	Lester Prairie	7.2 mi	$1,010
55338	Green Isle	7.3 mi	$1,540
55336	Glencoe	7.9 mi	$1,140

Questions

What is the Fair Market Rent for ZIP code 55370?

HUD's FY2027 Small Area Fair Market Rents for 55370 are $900 (studio), $990 (1 BR), $1,150 (2 BR), $1,430 (3 BR) and $1,710 (4 BR) a month.

What is the Section 8 payment standard in 55370?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55370 that range is $1,035 to $1,265 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55370?

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.