Rent by ZIP · Hennepin County
Rent in Minneapolis, MN 55420
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,590 (0% vs FY2026). Renters in this ZIP code pay a median $1,283 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,160 | $1,160 | 0% | $1,044–1,276 | $1,088 ±$95 |
| 1 bedroom | $1,310 | $1,310 | 0% | $1,179–1,441 | $1,187 ±$49 |
| 2 bedrooms | $1,590 | $1,590 | 0% | $1,431–1,749 | $1,303 ±$132 |
| 3 bedrooms | $2,080 | $2,100 | -1% | $1,872–2,288 | $1,713 ±$98 |
| 4 bedrooms | $2,330 | $2,350 | -0.9% | $2,097–2,563 | $1,775 ±$994 |
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 55420
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 |
|---|---|---|---|
| 55419 | Minneapolis | $1,880 | $1,839 |
| 55421 | Minneapolis | $1,610 | $1,337 |
| 55418 | Minneapolis | $1,850 | $1,657 |
| 55422 | Minneapolis | $1,890 | $1,588 |
| 55417 | Minneapolis | $1,720 | $1,643 |
| 55423 | Minneapolis | $1,740 | $1,448 |
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.