FY2027 Small Area FMR · Minneapolis, MN

ZIP 55413 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55413 (Minneapolis, MN) is $1,950 a month, up 6.6% from FY2026. That is 12% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$1,950per month ▲ 6.6%

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

Rank in the area52ndof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,755

2 BR Small Area FMR$1,950

110% of SAFMR$2,145

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

Studio$1,420▲ 6.8%

1 BR$1,600▲ 6.7%

2 BR$1,950▲ 6.6%

3 BR$2,550▲ 5.4%

4 BR$2,850▲ 5.2%

FY2027 FY2026

Where 55413 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55413 has the 52nd 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 $1,950 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	$1,420	$1,278 – $1,562	$1,265	$1,330
1 bedroom	$1,600	$1,440 – $1,760	$1,427	$1,500
2 bedrooms	$1,950	$1,755 – $2,145	$1,734	$1,830
3 bedrooms	$2,550	$2,295 – $2,805	$2,264	$2,420
4 bedrooms	$2,850	$2,565 – $3,135	$2,538	$2,710

A household renting a two-bedroom home at the Small Area FMR of $1,950 needs about $78,000 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 55413 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
55418	Minneapolis	1.5 mi	$1,850
55401	Minneapolis	1.7 mi	$2,600
55414	Minneapolis	1.7 mi	$1,700
55415	Minneapolis	1.9 mi	$2,400
55455	Minneapolis	1.9 mi	$1,560
55454	Minneapolis	2.1 mi	$1,540

Questions

What is the Fair Market Rent for ZIP code 55413?

HUD's FY2027 Small Area Fair Market Rents for 55413 are $1,420 (studio), $1,600 (1 BR), $1,950 (2 BR), $2,550 (3 BR) and $2,850 (4 BR) a month.

What is the Section 8 payment standard in 55413?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55413 that range is $1,755 to $2,145 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55413?

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.