FY2027 Small Area FMR · Minneapolis, MN

ZIP 55447 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55447 (Minneapolis, MN) is $2,040 a month, down 1.0% from FY2026. That is 18% above the Minneapolis-St. Paul-Bloomington, MN-WI area-wide FMR of $1,734.

2-bedroom SAFMR$2,040per month ▼ 1.0%

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

Rank in the area37thof 246 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,836

2 BR Small Area FMR$2,040

110% of SAFMR$2,244

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

Studio$1,490▼ 0.7%

1 BR$1,680▼ 0.6%

2 BR$2,040▼ 1.0%

3 BR$2,660▼ 2.6%

4 BR$2,990▼ 2.0%

FY2027 FY2026

Where 55447 sits in the Minneapolis-St. Paul-Bloomington, MN-WI area

Of the 246 ZIP codes HUD lists for the area, 55447 has the 37th 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 $2,040 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	$1,490	$1,341 – $1,639	$1,265	$1,500
1 bedroom	$1,680	$1,512 – $1,848	$1,427	$1,690
2 bedrooms	$2,040	$1,836 – $2,244	$1,734	$2,060
3 bedrooms	$2,660	$2,394 – $2,926	$2,264	$2,730
4 bedrooms	$2,990	$2,691 – $3,289	$2,538	$3,050

A household renting a two-bedroom home at the Small Area FMR of $2,040 needs about $81,600 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 55447 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
55446	Minneapolis	2.6 mi	$2,290
55441	Minneapolis	3.2 mi	$1,890
55391	Wayzata	3.5 mi	$1,960
55305	Hopkins	4.3 mi	$2,130
55442	Minneapolis	4.5 mi	$2,200
55356	Long Lake	4.9 mi	$2,220

Questions

What is the Fair Market Rent for ZIP code 55447?

HUD's FY2027 Small Area Fair Market Rents for 55447 are $1,490 (studio), $1,680 (1 BR), $2,040 (2 BR), $2,660 (3 BR) and $2,990 (4 BR) a month.

What is the Section 8 payment standard in 55447?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55447 that range is $1,836 to $2,244 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55447?

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.