The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Minneapolis, MN 55410's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 55410 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,170 to a high of $1,430, with an average of $1,300.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,314, a maximum of $1,606, and an average of $1,460.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,611, peaking at a maximum of $1,969, and averaging at $1,790.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,169, a maximum of $2,651, and an average of $2,410.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,457 to a maximum of $3,003, with an average of $2,730.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Minneapolis, MN 55410 Low Rent (90%) $1,170 $1,314 $1,611 $2,169 $2,457
Average Rent $1,300 $1,460 $1,790 $2,410 $2,730
High Rent(110%) $1,430 $1,606 $1,969 $2,651 $3,003
2023 Minneapolis, MN 55410 Low Rent (90%) $999 $1,134 $1,395 $1,899 $2,187
Average Rent $1,110 $1,260 $1,550 $2,110 $2,430
High Rent (110%) $1,221 $1,386 $1,705 $2,321 $2,673
2022 Minneapolis, MN 55410 Low Rent (90%) $963 $1,107 $1,368 $1,899 $2,205
Average Rent $1,070 $1,230 $1,520 $2,110 $2,450
High Rent(110%) $1,177 $1,353 $1,672 $2,321 $2,695
2021 Minneapolis, MN 55410 Low Rent (90%) $936 $1,098 $1,368 $1,926 $2,259
Average Rent $1,040 $1,220 $1,520 $2,140 $2,510
High Rent (110%) $1,144 $1,342 $1,672 $2,354 $2,761
2020 Minneapolis, MN 55410 Low Rent (90%) $873 $1,035 $1,296 $1,836 $2,160
Average Rent $970 $1,150 $1,440 $2,040 $2,400
High Rent(110%) $1,067 $1,265 $1,584 $2,244 $2,640
2019 Minneapolis, MN 55410 Low Rent (90%) $810 $963 $1,215 $1,728 $2,034
Average Rent $900 $1,070 $1,350 $1,920 $2,260
High Rent (110%) $990 $1,177 $1,485 $2,112 $2,486


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