FY2027 Small Area FMR · Albert Lea, MN

ZIP 56007 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 56007 (Albert Lea, MN) is $1,030 a month, up 6.2% from FY2026. That is 0% equal to the Freeborn County, MN area-wide FMR of $1,033.

2-bedroom SAFMR$1,030per month ▲ 6.2%

Area-wide 2 BR FMR$1,033Freeborn County, MN

Rank in the area13thof 19 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$927

2 BR Small Area FMR$1,030

110% of SAFMR$1,133

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

Studio$720▲ 7.5%

1 BR$790▲ 6.8%

2 BR$1,030▲ 6.2%

3 BR$1,350▲ 5.5%

4 BR$1,550▲ 8.4%

FY2027 FY2026

Where 56007 sits in the Freeborn County, MN area

Of the 19 ZIP codes HUD lists for the area, 56007 has the 13th highest two-bedroom Small Area FMR. Freeborn County, 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 $1,033 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,030 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	$720	$648 – $792	$719	$670
1 bedroom	$790	$711 – $869	$790	$740
2 bedrooms	$1,030	$927 – $1,133	$1,033	$970
3 bedrooms	$1,350	$1,215 – $1,485	$1,355	$1,280
4 bedrooms	$1,550	$1,395 – $1,705	$1,555	$1,430

A household renting a two-bedroom home at the Small Area FMR of $1,030 needs about $41,200 a year to keep housing costs at 30% of income. The area median family income is $91,600 and the 80% low-income limit for four people is $78,400. ZIP code 56007 lies mainly in Freeborn County. See the Freeborn County, MN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
56043	Hayward	5.2 mi	$1,040
56016	Clarks Grove	7.0 mi	$1,070
56045	Hollandale	8.6 mi	$1,140
56089	Twin Lakes	8.7 mi	$1,010
56036	Glenville	9.1 mi	$1,090
56009	Alden	11.1 mi	$1,300

Questions

What is the Fair Market Rent for ZIP code 56007?

HUD's FY2027 Small Area Fair Market Rents for 56007 are $720 (studio), $790 (1 BR), $1,030 (2 BR), $1,350 (3 BR) and $1,550 (4 BR) a month.

What is the Section 8 payment standard in 56007?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 56007 that range is $927 to $1,133 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 56007?

The FY2026 income limits of the Freeborn County, MN area apply: median family income $91,600, low-income (80%) limit $78,400 for a family of four.