Rent by ZIP · Hennepin County
Rent in Minneapolis, MN 55407
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,560 (+2.6% vs FY2026). Renters in this ZIP code pay a median $1,291 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,140 | $1,100 | +3.6% | $1,026–1,254 | $775 ±$530 |
| 1 bedroom | $1,280 | $1,250 | +2.4% | $1,152–1,408 | $1,058 ±$71 |
| 2 bedrooms | $1,560 | $1,520 | +2.6% | $1,404–1,716 | $1,391 ±$63 |
| 3 bedrooms | $2,040 | $2,020 | +1% | $1,836–2,244 | $1,660 ±$244 |
| 4 bedrooms | $2,280 | $2,270 | +0.4% | $2,052–2,508 | $2,067 ±$352 |
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 55407
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 |
|---|---|---|---|
| 55406 | Minneapolis | $1,710 | $1,486 |
| 55408 | Minneapolis | $1,980 | $1,735 |
| 55405 | Minneapolis | $1,540 | $1,541 |
| 55409 | Minneapolis | $1,650 | $1,632 |
| 55404 | Minneapolis | $1,630 | $1,378 |
| 55410 | Minneapolis | $2,040 | $1,904 |
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.