Rent by ZIP · Dakota County
Rent in Farmington, MN 55024
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,740 (+2.4% vs FY2026). Renters in this ZIP code pay a median $1,483 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,270 | $1,240 | +2.4% | $1,143–1,397 | – |
| 1 bedroom | $1,430 | $1,400 | +2.1% | $1,287–1,573 | $1,025 ±$282 |
| 2 bedrooms | $1,740 | $1,700 | +2.4% | $1,566–1,914 | $1,528 ±$225 |
| 3 bedrooms | $2,270 | $2,250 | +0.9% | $2,043–2,497 | $1,793 ±$990 |
| 4 bedrooms | $2,550 | $2,520 | +1.2% | $2,295–2,805 | $2,088 ±$657 |
Small Area FMRs for the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area, 2 bedrooms: $1,734.
What renters pay in 55024
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 55025 | Forest Lake | $1,720 | $1,445 |
| 55026 | Frontenac | $1,760 | $1,563 |
| 55021 | Faribault | $1,240 | $1,052 |
| 55027 | Goodhue | $1,310 | $1,000 |
| 55020 | Elko New Market | $2,150 | – |
| 55019 | Dundas | $1,760 | – |
Fair Market Rents across Dakota County, MN · All MN counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.