Rent by ZIP · Hennepin County
Rent in Minneapolis, MN 55423
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,740 (+4.8% vs FY2026). Renters in this ZIP code pay a median $1,393 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,270 | $1,210 | +5% | $1,143–1,397 | $1,524 ±$222 |
| 1 bedroom | $1,430 | $1,360 | +5.1% | $1,287–1,573 | $1,245 ±$76 |
| 2 bedrooms | $1,740 | $1,660 | +4.8% | $1,566–1,914 | $1,448 ±$52 |
| 3 bedrooms | $2,270 | $2,200 | +3.2% | $2,043–2,497 | $2,025 ±$338 |
| 4 bedrooms | $2,550 | $2,460 | +3.7% | $2,295–2,805 | $2,461 ±$554 |
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 55423
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 |
|---|---|---|---|
| 55422 | Minneapolis | $1,890 | $1,588 |
| 55424 | Minneapolis | $2,290 | $1,528 |
| 55421 | Minneapolis | $1,610 | $1,337 |
| 55425 | Minneapolis | $1,840 | $1,634 |
| 55420 | Minneapolis | $1,590 | $1,303 |
| 55426 | Minneapolis | $1,830 | $1,706 |
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.