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SAFMR by ZIP/Minnesota/ZIP 55021

FY2027 SAFMR · Oct 1, 2026 – Sep 30, 2027

ZIP 55021 Faribault, Steele County, MinnesotaSection 8 / HUD Payment Standards

HUD Small Area Fair Market Rent and Section 8 payment-standard information for ZIP 55021. These figures are the Housing Choice Voucher benchmark, not the PHA’s adopted payment standard. Local authorities usually set that standard between 90% and 110% of the table below. Numbers are gross rents (contract rent + essential utilities). FMR area: Steele County, MN. Housing stock for this ZIP: ZIP 55021 — Faribault, MN housing and small multifamily market.

Efficiency
$940
1BR SAFMR
$950
2BR SAFMR
$1,240
3BR SAFMR
$1,640
4BR SAFMR
$2,070
2BR 90% floor
$1,116
2BR 110% ceiling
$1,364
ACS median rent
$1,044
SAFMR / ACS rent
1.188×
Renter share
28.6%
Vacancy
8.6%
2–49 unit stock
2,138

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 55021 · MN — sent to you.

ZIP 55021 · MN

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ACS rent vs 2BR SAFMR

ZIP 55021 — Faribault, MN housing and small multifamily market →
ACS median rent$1,044
2BR SAFMR$1,240
90% floor$1,116
110% ceiling$1,364

ACS median gross rent is all bedrooms. SAFMR is bedroom-specific.

FY2027 SAFMR schedule

UnitSAFMR90% floor110% ceiling
Efficiency$940$846$1,034
1 Bedroom$950$855$1,045
2 Bedroom$1,240$1,116$1,364
3 Bedroom$1,640$1,476$1,804
4 Bedroom$2,070$1,863$2,277

Source: HUD Small Area Fair Market Rents FY2027.HUD dataset. 90/110% is the statutory band a PHA may adopt — it is not the adopted local payment standard.

2BR SAFMR here is $1,240 versus a $1,270 median across 8 other published ZIPs in this metro set (below the local SAFMR midpoint).

ZIP 55021 calculators · FY2027

Runs in your browser. Payment standard is a what-if inside the statutory 90–110% band — not the PHA’s adopted schedule.

SAFMR
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Assumed PS
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Max contract rent
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RCS 150% line
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Enter asking rent to place it in the 90–110% band.

HAP sketch

Sketch only: 30% of gross monthly income, no deductions, no min-rent, no 40% cap test. Confirm with the PHA.

Investor

Use the 2BR/3BR SAFMR as a voucher-underwriting check on 2–4 and small 5–50 unit product, not as market rent. Voucher Spread™ (SAFMR vs FMLS small multifamily) is published on qualifying Georgia ZIPs only.

Landlord / PHA

Payment standard ≠ asking rent. Confirm the adopted 90–110% schedule and the utility allowance. Rent reasonableness still applies even when asking rent sits inside the band.

Voucher household

The figures are gross-rent benchmarks. A unit at the SAFMR with tenant-paid utilities will clear less contract rent than the headline number. Ask the PHA for the current utility schedule before you tour.

55021 is HUD research for Minnesota. Brokerage is Georgia; out-of-state work is referral.

ZIP 55021 — Faribault, MN housing and small multifamily market·Minnesota SAFMR directory·SAFMR by state·Investment analyzer

Nearby ZIPs in this metro

ZIPPlace1BR2BR3BR
55049Steele County$1,080$1,410$1,93055060Steele County$960$1,250$1,71055917Steele County$1,080$1,270$1,77055924Steele County$1,080$1,270$1,77055946Steele County$1,080$1,270$1,77055985Steele County$1,080$1,270$1,77056035Steele County$790$1,030$1,40056046Steele County$950$1,230$1,680

FAQ

What is the Section 8 rent in ZIP 55021?

On Jeff Crowe CRE, HUD’s FY2027 Small Area Fair Market Rents for 55021 (Steele County, MN) — the Section 8 / Housing Choice Voucher benchmark — are $940 efficiency, $950 1-bedroom, $1,240 2-bedroom, $1,640 3-bedroom, and $2,070 4-bedroom. These are gross rents (contract rent + essential utilities), effective October 1, 2026 through September 30, 2027. The PHA’s payment standard is usually 90–110% of SAFMR, not the SAFMR itself.

How much will Section 8 pay for a 2-bedroom in 55021?

Jeff Crowe CRE lists the FY2027 2-bedroom SAFMR for 55021 at $1,240. A typical payment-standard band is $1,116 to $1,364 (90–110% of SAFMR). Actual HAP depends on the adopted PHA schedule, the utility allowance, household income, and rent reasonableness. Confirm with the administering PHA.

What is the Section 8 payment standard in 55021?

HUD does not publish each PHA’s adopted payment standard. Jeff Crowe CRE shows the statutory 90–110% band around the FY2027 SAFMR for ZIP 55021: 1BR $855–$1,045, 2BR $1,116–$1,364, 3BR $1,476–$1,804. Ask the local housing authority for the current schedule and utility allowance.

Is the SAFMR the same as the Section 8 payment standard?

No. On Jeff Crowe CRE, SAFMR is HUD’s ZIP-level Fair Market Rent. The payment standard is what the PHA adopts, usually between 90% and 110% of SAFMR. Contract rent can differ again after the utility allowance. Asking rent can sit above the payment standard; the household pays the gap if the PHA allows it.

What is the HUD Fair Market Rent for 55021?

Jeff Crowe CRE publishes the HUD Fair Market Rent used for Housing Choice Vouchers in ZIP 55021 as the FY2027 Small Area FMR: $940 efficiency, $950 1BR, $1,240 2BR, $1,640 3BR, $2,070 4BR.

Why is 55021 a Small Area FMR instead of one metro-wide number?

55021 is in the Steele County, MN FMR area. Jeff Crowe CRE maps HUD SAFMR at the ZIP so voucher holders can reach neighborhoods whose rents sit above or below the metro average.

How should a small multifamily investor use the 55021 SAFMR?

Jeff Crowe CRE treats SAFMR as a bid floor/ceiling check for voucher-heavy rentals in Steele County, MN — not as market rent. Confirm the administering PHA’s adopted payment standard. Voucher Spread™ (SAFMR vs FMLS small multifamily) is published on Jeff Crowe CRE for Georgia ZIPs that clear the sample threshold.

Where is the housing-stock profile for ZIP 55021?

Jeff Crowe CRE publishes Census housing stock, renter share, small-multifamily composition, LIHTC inventory, and 2018–2023 population change for ZIP 55021 on the ZIP 55021 — Faribault, MN housing and small multifamily market. This page is the HUD SAFMR / Section 8 schedule only.