FY2027 Small Area FMR · Hanley Falls, MN

ZIP 56245 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 56245 (Hanley Falls, MN) is $1,010 a month, up 4.1% from FY2026. That is 0% equal to the Yellow Medicine County, MN area-wide FMR of $1,014.

2-bedroom SAFMR$1,010per month ▲ 4.1%

Area-wide 2 BR FMR$1,014Yellow Medicine County, MN

Rank in the area7thof 15 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$710▲ 6.0%

1 BR$800▲ 6.7%

2 BR$1,010▲ 4.1%

3 BR$1,300▲ 11.1%

4 BR$1,480▲ 13.0%

FY2027 FY2026

Where 56245 sits in the Yellow Medicine County, MN area

Of the 15 ZIP codes HUD lists for the area, 56245 has the 7th highest two-bedroom Small Area FMR. Yellow Medicine 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.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$710	$639 – $781	$706	$670
1 bedroom	$800	$720 – $880	$799	$750
2 bedrooms	$1,010	$909 – $1,111	$1,014	$970
3 bedrooms	$1,300	$1,170 – $1,430	$1,290	$1,170
4 bedrooms	$1,480	$1,332 – $1,628	$1,468	$1,310

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 $95,800 and the 80% low-income limit for four people is $78,400. ZIP code 56245 lies mainly in Yellow Medicine County. See the Yellow Medicine County, MN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
56229	Cottonwood	6.5 mi	$1,010
56297	Wood Lake	8.0 mi	$1,040
56223	Clarkfield	8.8 mi	$1,210
56241	Granite Falls	9.4 mi	$1,130
56237	Echo	12.9 mi	$1,010
56218	Boyd	16.2 mi	$1,020

Questions

What is the Fair Market Rent for ZIP code 56245?

HUD's FY2027 Small Area Fair Market Rents for 56245 are $710 (studio), $800 (1 BR), $1,010 (2 BR), $1,300 (3 BR) and $1,480 (4 BR) a month.

What is the Section 8 payment standard in 56245?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 56245 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 56245?

The FY2026 income limits of the Yellow Medicine County, MN area apply: median family income $95,800, low-income (80%) limit $78,400 for a family of four.