FY2027 Small Area FMR · Iona, MN
ZIP 56141 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 56141 (Iona, MN) is $1,010 a month, up 4.1% from FY2026. That is 0% equal to the Murray County, MN area-wide FMR of $1,014.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 56141 sits in the Murray County, MN area
Of the 18 ZIP codes HUD lists for the area, 56141 has the 12th highest two-bedroom Small Area FMR. Murray 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,010 for this ZIP code instead.
ZIP code 56141 crosses more than one HUD area. HUD also lists it under Nobles County, MN (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $710 | $639 – $781 | $706 | $670 |
| 1 bedroom | $930 | $837 – $1,023 | $931 | $850 |
| 2 bedrooms | $1,010 | $909 – $1,111 | $1,014 | $970 |
| 3 bedrooms | $1,210 | $1,089 – $1,331 | $1,208 | $1,230 |
| 4 bedrooms | $1,430 | $1,287 – $1,573 | $1,420 | $1,570 |
A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 a year to keep housing costs at 30% of income. The area median family income is $97,400 and the 80% low-income limit for four people is $78,400. ZIP code 56141 lies mainly in Murray County and Nobles County. See the Murray County, MN county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 56141?
HUD's FY2027 Small Area Fair Market Rents for 56141 are $710 (studio), $930 (1 BR), $1,010 (2 BR), $1,210 (3 BR) and $1,430 (4 BR) a month.
What is the Section 8 payment standard in 56141?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 56141 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 56141?
The FY2026 income limits of the Murray County, MN area apply: median family income $97,400, low-income (80%) limit $78,400 for a family of four.