FY2027 Small Area FMR · Lake Crystal, MN

ZIP 56055 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 56055 (Lake Crystal, MN) is $1,060 a month, unchanged from FY2026. That is 14% below the Mankato, MN area-wide FMR of $1,230.

2-bedroom SAFMR$1,060per month ■ 0.0%

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

Rank in the area19thof 30 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$954

2 BR Small Area FMR$1,060

110% of SAFMR$1,166

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

Studio$880▲ 1.1%

1 BR$880■ 0.0%

2 BR$1,060■ 0.0%

3 BR$1,470▼ 1.3%

4 BR$1,730▼ 2.8%

FY2027 FY2026

Where 56055 sits in the Mankato, MN area

Of the 30 ZIP codes HUD lists for the area, 56055 has the 19th 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 $1,060 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	$880	$792 – $968	$1,016	$870
1 bedroom	$880	$792 – $968	$1,023	$880
2 bedrooms	$1,060	$954 – $1,166	$1,230	$1,060
3 bedrooms	$1,470	$1,323 – $1,617	$1,703	$1,490
4 bedrooms	$1,730	$1,557 – $1,903	$1,744	$1,780

A household renting a two-bedroom home at the Small Area FMR of $1,060 needs about $42,400 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 56055 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
56034	Garden City	7.4 mi	$1,070
56003	Mankato	9.5 mi	$1,070
56062	Madelia	10.5 mi	$1,060
56021	Courtland	11.8 mi	$1,070
56090	Vernon Center	11.9 mi	$1,190
56037	Good Thunder	12.0 mi	$1,060

Questions

What is the Fair Market Rent for ZIP code 56055?

HUD's FY2027 Small Area Fair Market Rents for 56055 are $880 (studio), $880 (1 BR), $1,060 (2 BR), $1,470 (3 BR) and $1,730 (4 BR) a month.

What is the Section 8 payment standard in 56055?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 56055 that range is $954 to $1,166 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 56055?

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.