FY2027 Small Area FMR · Minneapolis, MN

ZIP 55442 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55442 (Minneapolis, MN) is $2,200 a month, up 3.3% from FY2026. That is 27% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$2,200per month ▲ 3.3%

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

Rank in the area18thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,980

2 BR Small Area FMR$2,200

110% of SAFMR$2,420

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

Studio$1,610▲ 3.9%

1 BR$1,810▲ 3.4%

2 BR$2,200▲ 3.3%

3 BR$2,870▲ 1.8%

4 BR$3,220▲ 2.2%

FY2027 FY2026

Where 55442 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55442 has the 18th 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 $2,200 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	$1,610	$1,449 – $1,771	$1,265	$1,550
1 bedroom	$1,810	$1,629 – $1,991	$1,427	$1,750
2 bedrooms	$2,200	$1,980 – $2,420	$1,734	$2,130
3 bedrooms	$2,870	$2,583 – $3,157	$2,264	$2,820
4 bedrooms	$3,220	$2,898 – $3,542	$2,538	$3,150

A household renting a two-bedroom home at the Small Area FMR of $2,200 needs about $88,000 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 55442 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
55428	Minneapolis	2.4 mi	$1,580
55446	Minneapolis	3.2 mi	$2,290
55441	Minneapolis	3.2 mi	$1,890
55427	Minneapolis	3.8 mi	$1,780
55429	Minneapolis	4.3 mi	$1,540
55447	Minneapolis	4.5 mi	$2,040

Questions

What is the Fair Market Rent for ZIP code 55442?

HUD's FY2027 Small Area Fair Market Rents for 55442 are $1,610 (studio), $1,810 (1 BR), $2,200 (2 BR), $2,870 (3 BR) and $3,220 (4 BR) a month.

What is the Section 8 payment standard in 55442?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55442 that range is $1,980 to $2,420 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55442?

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.