Fair Market Rent · Minnesota
Fair Market Rent in Dakota County, MN
FY2027 HUD figures, effective October 1, 2026, plus what renters pay by ZIP code.
HUD's FY2027 Fair Market Rent for a 2-bedroom home in Dakota County is $1,734 a month, +1.5% from FY2026. Dakota County is part of the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area (a metro area). HUD also publishes Small Area FMRs by ZIP code here; those can be higher or lower than the area-wide figure. See each ZIP code below.
Area-wide Fair Market Rents
| Size | FY2027 | FY2026 | Change | Typical voucher range (90–110%) |
|---|---|---|---|---|
| Studio | $1,265 | $1,242 | +1.9% | $1,138–1,392 |
| 1 bedroom | $1,427 | $1,405 | +1.6% | $1,284–1,570 |
| 2 bedrooms | $1,734 | $1,709 | +1.5% | $1,561–1,907 |
| 3 bedrooms | $2,264 | $2,262 | +0.1% | $2,038–2,490 |
| 4 bedrooms | $2,538 | $2,531 | +0.3% | $2,284–2,792 |
The voucher range is the typical band housing authorities use for payment standards; your housing authority sets the actual standard.
Rents by ZIP code in Dakota County
Open a ZIP code for every size, the spread of rents and nearby ZIP codes.
| ZIP | Place | 2-bedroom FMR (ZIP) | Census median, 2 bedrooms | Census median, all sizes |
|---|---|---|---|---|
| 55024 | Farmington | $1,740 | $1,528 | $1,483 |
| 55031 | Hampton | $1,540 | $1,091 | $1,102 |
| 55033 | Hastings | $1,540 | $1,171 | $1,173 |
| 55044 | Lakeville | $2,170 | $1,769 | $1,826 |
| 55065 | Randolph | $1,910 | $1,104 | $1,411 |
| 55068 | Rosemount | $1,960 | $1,620 | $1,627 |
| 55075 | South Saint Paul | $1,540 | $1,199 | $1,199 |
| 55076 | Inver Grove Heights | $1,650 | $1,487 | $1,374 |
| 55077 | Inver Grove Heights | $1,800 | $1,557 | $1,506 |
| 55085 | Vermillion | $1,540 | $1,167 | $1,208 |
| 55118 | Saint Paul | $1,620 | $1,478 | $1,323 |
| 55120 | Saint Paul | $1,870 | $1,643 | $1,628 |
| 55121 | Saint Paul | $1,960 | $1,829 | $1,723 |
| 55122 | Saint Paul | $1,840 | $1,589 | $1,663 |
| 55123 | Saint Paul | $1,920 | $1,717 | $1,654 |
| 55124 | Saint Paul | $2,040 | $1,793 | $1,736 |
| 55150 | Mendota | $1,540 | $850 | $875 |
| 55306 | Burnsville | $1,940 | $1,652 | $1,622 |
| 55337 | Burnsville | $1,870 | $1,602 | $1,476 |
Sources: HUD Fair Market Rents and Small Area Fair Market Rents, FY2027 (effective October 1, 2026) and FY2026; U.S. Census Bureau, 2020–2024 American Community Survey 5-year estimates (median gross rent by ZIP code). Fair Market Rents and Census figures include utilities. Not affiliated with HUD or the Census Bureau. About the data.