FY2027 Small Area FMR · Cotton, MN

ZIP 55724 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 55724 (Cotton, MN) is $1,230 a month, down 1.6% from FY2026. That is 2% above the Duluth, MN-WI area-wide FMR of $1,207.

2-bedroom SAFMR$1,230per month ▼ 1.6%

Area-wide 2 BR FMR$1,207Duluth, MN-WI

Rank in the area16thof 78 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,107

2 BR Small Area FMR$1,230

110% of SAFMR$1,353

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

Studio$860■ 0.0%

1 BR$980▼ 1.0%

2 BR$1,230▼ 1.6%

3 BR$1,700▼ 0.6%

4 BR$2,060▼ 1.9%

FY2027 FY2026

Where 55724 sits in the Duluth, MN-WI area

Of the 78 ZIP codes HUD lists for the area, 55724 has the 16th highest two-bedroom Small Area FMR. Duluth, 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 $1,207 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,230 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	$860	$774 – $946	$841	$860
1 bedroom	$980	$882 – $1,078	$961	$990
2 bedrooms	$1,230	$1,107 – $1,353	$1,207	$1,250
3 bedrooms	$1,700	$1,530 – $1,870	$1,671	$1,710
4 bedrooms	$2,060	$1,854 – $2,266	$2,017	$2,100

A household renting a two-bedroom home at the Small Area FMR of $1,230 needs about $49,200 a year to keep housing costs at 30% of income. The area median family income is $101,100 and the 80% low-income limit for four people is $80,900. ZIP code 55724 lies mainly in St. Louis County. See the Duluth, MN-WI metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
55717	Canyon	6.9 mi	$1,700
55734	Eveleth	13.5 mi	$1,110
55803	Duluth	15.6 mi	$1,720
55763	Makinen	15.6 mi	$1,110
55738	Forbes	15.8 mi	$1,110
55779	Saginaw	18.3 mi	$1,810

Questions

What is the Fair Market Rent for ZIP code 55724?

HUD's FY2027 Small Area Fair Market Rents for 55724 are $860 (studio), $980 (1 BR), $1,230 (2 BR), $1,700 (3 BR) and $2,060 (4 BR) a month.

What is the Section 8 payment standard in 55724?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 55724 that range is $1,107 to $1,353 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 55724?

The FY2026 income limits of the Duluth, MN-WI area apply: median family income $101,100, low-income (80%) limit $80,900 for a family of four.