FY2027 Small Area FMR · Wheaton, MN
ZIP 56296 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 56296 (Wheaton, MN) is $1,010 a month, up 4.1% from FY2026. That is 0% equal to the Traverse 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 56296 sits in the Traverse County, MN area
Of the 10 ZIP codes HUD lists for the area, 56296 has the 6th highest two-bedroom Small Area FMR. Traverse 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
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $710 | $639 – $781 | $706 | $670 |
| 1 bedroom | $800 | $720 – $880 | $805 | $740 |
| 2 bedrooms | $1,010 | $909 – $1,111 | $1,014 | $970 |
| 3 bedrooms | $1,410 | $1,269 – $1,551 | $1,404 | $1,350 |
| 4 bedrooms | $1,700 | $1,530 – $1,870 | $1,695 | $1,610 |
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 $91,100 and the 80% low-income limit for four people is $78,400. ZIP code 56296 lies mainly in Traverse County. See the Traverse 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 56296?
HUD's FY2027 Small Area Fair Market Rents for 56296 are $710 (studio), $800 (1 BR), $1,010 (2 BR), $1,410 (3 BR) and $1,700 (4 BR) a month.
What is the Section 8 payment standard in 56296?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 56296 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 56296?
The FY2026 income limits of the Traverse County, MN area apply: median family income $91,100, low-income (80%) limit $78,400 for a family of four.