Rent by ZIP · Hennepin County
Rent in Minneapolis, MN 55431
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $2,090 (-0.5% vs FY2026). Renters in this ZIP code pay a median $1,699 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,520 | $1,530 | -0.7% | $1,368–1,672 | $1,164 ±$124 |
| 1 bedroom | $1,720 | $1,730 | -0.6% | $1,548–1,892 | $1,352 ±$156 |
| 2 bedrooms | $2,090 | $2,100 | -0.5% | $1,881–2,299 | $1,842 ±$73 |
| 3 bedrooms | $2,730 | $2,780 | -1.8% | $2,457–3,003 | $2,265 ±$257 |
| 4 bedrooms | $3,060 | $3,110 | -1.6% | $2,754–3,366 | $2,287 ±$176 |
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 55431
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 |
|---|---|---|---|
| 55430 | Minneapolis | $1,660 | $1,415 |
| 55432 | Minneapolis | $1,600 | $1,435 |
| 55429 | Minneapolis | $1,540 | $1,373 |
| 55433 | Minneapolis | $1,710 | $1,493 |
| 55428 | Minneapolis | $1,580 | $1,343 |
| 55434 | Minneapolis | $2,100 | $1,878 |
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.