Section 8 Fair Market Rent (FMR) for ZIP 55310 - 2027

Location: Renville County, MN | Metro: Renville County, MN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$860
2 Bedrooms	$1,010
3 Bedrooms	$1,410
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,344

Median Household Income

$87,292

Housing Units

682

Renter Percentage

13.4%

Occupancy Rate

87.5%

Renter Occupied

The economics of Section 8 housing in ZIP code 55310 are defined by the SAFMR (Small Area Fair Market Rent) rates set by HUD (Housing and Urban Development). For a two-bedroom apartment, the SAFMR for FY 2026 is $970. This figure represents the maximum amount that HUD will reimburse landlords for rent under the Section 8 program. However, it's important to understand that this is not the total amount you'll receive; it's adjusted based on the tenant's portion of the rent and utility allowances.

The local market rent for a two-bedroom unit in ZIP 55310, according to Census ACS data, is $629. This lower figure can be a point of confusion for landlords, who might wonder why they would participate in a program where the reimbursement rate is higher than the market rate. Here’s a breakdown:

Tenant Portion: Tenants are required to pay 30% of their adjusted income toward rent. If a tenant's income is low enough, this could be as little as $25 per month, but typically it would be around 30% of a minimum wage earner's income, which might be $250-$300 per month depending on the individual's income.
Utility Allowances: In addition to the rent, there are utility allowances that can add up to $200-$300 per month, depending on the season and the specific terms of the voucher.

To calculate the actual reimbursement, subtract the tenant's portion from the SAFMR. For instance, if the tenant pays $250, then HUD would pay the remaining $720 to meet the $970 SAFMR. Utility allowances are paid separately and do not affect the rent reimbursement directly. Therefore, the landlord receives the SAFMR plus any applicable utility allowance.

In ZIP 55310, given the local market rent is $629, participating in the Section 8 program can offer a significant surplus over the market rate. With a $970 SAFMR, landlords can expect a reimbursement that is approximately $341 above the local market rent for a two-bedroom unit, assuming the tenant pays the average portion of $250. This surplus can help cover maintenance costs, vacancies, and other expenses associated with property management.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.