Minnesota · FIPS 27109 · HUD FY 2027
Olmsted County, Minnesota Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Olmsted County is $1,422 a month (rent plus utilities), 6% below the Minnesota average of $1,507 and 19% below the U.S. average of $1,761. That is up $15 (1.1%) from FY 2026. At 30% of income, a household needs about $56,880 a year to afford it.
- $1,4222-bedroom FMR+$15 (+1.1%) vs FY 2026
- $1,2261-bedroom FMRMinnesota: $1,231 · U.S.: $1,478
- $56,880Income for a 2-bedroom$27/hour full-time
- 12 of 872BR rank in Minnesota1 = highest rent
| Unit | Olmsted County FY 2027 | FY 2026 | Change | Minnesota avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,183 | $1,112 | +$71 (+6.4%) | $1,102 | $1,379 | $47,320 |
| 1 bedroom | $1,226 | $1,189 | +$37 (+3.1%) | $1,231 | $1,478 | $49,040 |
| 2 bedrooms | $1,422 | $1,407 | +$15 (+1.1%) | $1,507 | $1,761 | $56,880 |
| 3 bedrooms | $1,969 | $1,957 | +$12 (+0.6%) | $1,980 | $2,266 | $78,760 |
| 4 bedrooms | $2,377 | $2,360 | +$17 (+0.7%) | $2,243 | $2,607 | $95,080 |
How Olmsted County compares
- HUD sets this rent for the Rochester, MN metro FMR area, which covers 185,543 residents in 2 counties.
- Across Minnesota, 2-bedroom FMRs run from $1,014 (Yellow Medicine County) to $1,734 (Anoka County).
- Studio to 4-bedroom: $1,183, $1,226, $1,422, $1,969, $2,377. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 12 ZIP codes mostly in Olmsted County (by land area), the 2-bedroom figure ranges from $1,270 to $1,740.
Small Area FMRs by ZIP code in Olmsted County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 55901 | $1,220 | $1,270 | $1,470 | $2,040 | $2,460 | no change | 3% above |
| 55902 | $1,450 | $1,500 | $1,740 | $2,410 | $2,910 | +$50 (+3.0%) | 22% above |
| 55903 | $1,200 | $1,240 | $1,440 | $1,990 | $2,410 | +$20 (+1.4%) | 1% above |
| 55904 | $1,170 | $1,220 | $1,410 | $1,950 | $2,360 | no change | 1% below |
| 55905 | $1,200 | $1,240 | $1,440 | $1,990 | $2,410 | +$20 (+1.4%) | 1% above |
| 55906 | $1,060 | $1,090 | $1,270 | $1,770 | $2,130 | +$40 (+3.3%) | 11% below |
| 55920 | $1,010 | $1,080 | $1,270 | $1,770 | $2,130 | +$60 (+5.0%) | 11% below |
| 55929 | $1,010 | $1,080 | $1,270 | $1,770 | $2,130 | +$60 (+5.0%) | 11% below |
| 55932 | $1,010 | $1,080 | $1,270 | $1,770 | $2,130 | +$60 (+5.0%) | 11% below |
| 55934 | $1,010 | $1,080 | $1,270 | $1,770 | $2,130 | +$60 (+5.0%) | 11% below |
| 55960 | $1,260 | $1,300 | $1,510 | $2,090 | $2,520 | +$20 (+1.3%) | 6% above |
| 55976 | $1,010 | $1,080 | $1,270 | $1,770 | $2,130 | +$60 (+5.0%) | 11% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.