FY2027 Small Area FMR · Mankato, MN

ZIP 56001 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 56001 (Mankato, MN) is $1,350 a month, up 4.7% from FY2026. That is 10% above the Mankato, MN area-wide FMR of $1,230.

2-bedroom SAFMR$1,350per month ▲ 4.7%

Area-wide 2 BR FMR$1,230Mankato, MN

Rank in the area3rdof 30 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,215

2 BR Small Area FMR$1,350

110% of SAFMR$1,485

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

Studio$1,120▲ 4.7%

1 BR$1,120▲ 3.7%

2 BR$1,350▲ 4.7%

3 BR$1,870▲ 4.5%

4 BR$1,910▼ 9.5%

FY2027 FY2026

Where 56001 sits in the Mankato, MN area

Of the 30 ZIP codes HUD lists for the area, 56001 has the 3rd highest two-bedroom Small Area FMR. Mankato, MN 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 $1,230 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,350 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	$1,120	$1,008 – $1,232	$1,016	$1,070
1 bedroom	$1,120	$1,008 – $1,232	$1,023	$1,080
2 bedrooms	$1,350	$1,215 – $1,485	$1,230	$1,290
3 bedrooms	$1,870	$1,683 – $2,057	$1,703	$1,790
4 bedrooms	$1,910	$1,719 – $2,101	$1,744	$2,110

A household renting a two-bedroom home at the Small Area FMR of $1,350 needs about $54,000 a year to keep housing costs at 30% of income. The area median family income is $106,500 and the 80% low-income limit for four people is $85,200. ZIP code 56001 lies mainly in Blue Earth County. See the Mankato, MN metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
56080	Saint Clair	7.0 mi	$1,060
56024	Eagle Lake	7.0 mi	$1,630
56003	Mankato	8.4 mi	$1,070
56037	Good Thunder	8.5 mi	$1,060
56050	Kasota	9.7 mi	$1,060
56063	Madison Lake	9.9 mi	$1,070

Questions

What is the Fair Market Rent for ZIP code 56001?

HUD's FY2027 Small Area Fair Market Rents for 56001 are $1,120 (studio), $1,120 (1 BR), $1,350 (2 BR), $1,870 (3 BR) and $1,910 (4 BR) a month.

What is the Section 8 payment standard in 56001?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 56001 that range is $1,215 to $1,485 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 56001?

The FY2026 income limits of the Mankato, MN area apply: median family income $106,500, low-income (80%) limit $85,200 for a family of four.