FY2027 Small Area FMR · Wanda, MN

ZIP 56294 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 56294 (Wanda, MN) is $1,110 a month, up 4.7% from FY2026. That is 9% above the Redwood County, MN area-wide FMR of $1,014.

2-bedroom SAFMR$1,110per month ▲ 4.7%

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

Rank in the area4thof 23 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$999

2 BR Small Area FMR$1,110

110% of SAFMR$1,221

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

Studio$780▲ 6.8%

1 BR$860▲ 6.2%

2 BR$1,110▲ 4.7%

3 BR$1,520▲ 5.6%

4 BR$1,650▼ 1.2%

FY2027 FY2026

Where 56294 sits in the Redwood County, MN area

Of the 23 ZIP codes HUD lists for the area, 56294 has the 4th highest two-bedroom Small Area FMR. Redwood 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 $1,110 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	$780	$702 – $858	$706	$730
1 bedroom	$860	$774 – $946	$775	$810
2 bedrooms	$1,110	$999 – $1,221	$1,014	$1,060
3 bedrooms	$1,520	$1,368 – $1,672	$1,389	$1,440
4 bedrooms	$1,650	$1,485 – $1,815	$1,509	$1,670

A household renting a two-bedroom home at the Small Area FMR of $1,110 needs about $44,400 a year to keep housing costs at 30% of income. The area median family income is $92,100 and the 80% low-income limit for four people is $78,400. ZIP code 56294 lies mainly in Redwood County. See the Redwood County, MN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
56152	Lamberton	6.5 mi	$1,010
56293	Wabasso	7.5 mi	$1,010
56083	Sanborn	8.7 mi	$1,150
56224	Clements	9.0 mi	$1,010
56166	Revere	11.2 mi	$1,010
56255	Lucan	11.7 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 56294?

HUD's FY2027 Small Area Fair Market Rents for 56294 are $780 (studio), $860 (1 BR), $1,110 (2 BR), $1,520 (3 BR) and $1,650 (4 BR) a month.

What is the Section 8 payment standard in 56294?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 56294 that range is $999 to $1,221 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 56294?

The FY2026 income limits of the Redwood County, MN area apply: median family income $92,100, low-income (80%) limit $78,400 for a family of four.