FY2027 Small Area FMR · Minneapolis, MN

ZIP 55435 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55435 (Minneapolis, MN) is $2,130 a month, up 0.9% from FY2026. That is 23% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$2,130per month ▲ 0.9%

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

Rank in the area26thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,917

2 BR Small Area FMR$2,130

110% of SAFMR$2,343

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

Studio$1,550▲ 1.3%

1 BR$1,750▲ 1.2%

2 BR$2,130▲ 0.9%

3 BR$2,780▼ 0.4%

4 BR$3,120■ 0.0%

FY2027 FY2026

Where 55435 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55435 has the 26th 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 $2,130 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	$1,550	$1,395 – $1,705	$1,265	$1,530
1 bedroom	$1,750	$1,575 – $1,925	$1,427	$1,730
2 bedrooms	$2,130	$1,917 – $2,343	$1,734	$2,110
3 bedrooms	$2,780	$2,502 – $3,058	$2,264	$2,790
4 bedrooms	$3,120	$2,808 – $3,432	$2,538	$3,120

A household renting a two-bedroom home at the Small Area FMR of $2,130 needs about $85,200 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 55435 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
55439	Minneapolis	1.9 mi	$1,990
55424	Minneapolis	2.2 mi	$2,290
55423	Minneapolis	2.6 mi	$1,740
55410	Minneapolis	2.7 mi	$2,040
55436	Minneapolis	2.8 mi	$2,180
55419	Minneapolis	3.2 mi	$1,880

Questions

What is the Fair Market Rent for ZIP code 55435?

HUD's FY2027 Small Area Fair Market Rents for 55435 are $1,550 (studio), $1,750 (1 BR), $2,130 (2 BR), $2,780 (3 BR) and $3,120 (4 BR) a month.

What is the Section 8 payment standard in 55435?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55435 that range is $1,917 to $2,343 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55435?

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.