Rent by ZIP · Hennepin County
Rent in Minneapolis, MN 55406
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,710 (+4.3% vs FY2026). Renters in this ZIP code pay a median $1,281 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,250 | $1,190 | +5% | $1,125–1,375 | $756 ±$412 |
| 1 bedroom | $1,410 | $1,350 | +4.4% | $1,269–1,551 | $1,160 ±$60 |
| 2 bedrooms | $1,710 | $1,640 | +4.3% | $1,539–1,881 | $1,486 ±$122 |
| 3 bedrooms | $2,230 | $2,170 | +2.8% | $2,007–2,453 | $1,829 ±$233 |
| 4 bedrooms | $2,500 | $2,430 | +2.9% | $2,250–2,750 | $2,175 ±$290 |
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 55406
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 |
|---|---|---|---|
| 55405 | Minneapolis | $1,540 | $1,541 |
| 55407 | Minneapolis | $1,560 | $1,391 |
| 55404 | Minneapolis | $1,630 | $1,378 |
| 55408 | Minneapolis | $1,980 | $1,735 |
| 55403 | Minneapolis | $1,760 | $1,867 |
| 55409 | Minneapolis | $1,650 | $1,632 |
Fair Market Rents across Hennepin 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.