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

Minneapolis, MN 55415'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 55415 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 $1,584 to a high of $1,936, with an average of $1,760.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,791, a maximum of $2,189, and an average of $1,990.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,187, peaking at a maximum of $2,673, and averaging at $2,430.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,952, a maximum of $3,608, and an average of $3,280.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,339 to a maximum of $4,081, with an average of $3,710.

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 55415 Low Rent (90%) $1,584 $1,791 $2,187 $2,952 $3,339
Average Rent $1,760 $1,990 $2,430 $3,280 $3,710
High Rent(110%) $1,936 $2,189 $2,673 $3,608 $4,081
2023 Minneapolis, MN 55415 Low Rent (90%) $1,350 $1,539 $1,890 $2,565 $2,961
Average Rent $1,500 $1,710 $2,100 $2,850 $3,290
High Rent (110%) $1,650 $1,881 $2,310 $3,135 $3,619
2022 Minneapolis, MN 55415 Low Rent (90%) $1,206 $1,395 $1,719 $2,385 $2,772
Average Rent $1,340 $1,550 $1,910 $2,650 $3,080
High Rent(110%) $1,474 $1,705 $2,101 $2,915 $3,388
2021 Minneapolis, MN 55415 Low Rent (90%) $1,116 $1,305 $1,620 $2,277 $2,673
Average Rent $1,240 $1,450 $1,800 $2,530 $2,970
High Rent (110%) $1,364 $1,595 $1,980 $2,783 $3,267
2020 Minneapolis, MN 55415 Low Rent (90%) $909 $1,080 $1,350 $1,917 $2,250
Average Rent $1,010 $1,200 $1,500 $2,130 $2,500
High Rent(110%) $1,111 $1,320 $1,650 $2,343 $2,750
2019 Minneapolis, MN 55415 Low Rent (90%) $747 $891 $1,125 $1,602 $1,881
Average Rent $830 $990 $1,250 $1,780 $2,090
High Rent (110%) $913 $1,089 $1,375 $1,958 $2,299


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