# Pencilwrite Minnesota Rent Data, full summary

Generated 2026-09-06T07:20:11. Data last updated 2026-09-05.
License: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Cite as: Pencilwrite MN Rent Data, pencilwrite.com/rents/
Source pages: https://pencilwrite.com/rents/ . JSON API: https://pencilwrite.com/developers/ . Methodology: https://pencilwrite.com/rents/methodology/

## Statewide summary

- Minnesota ZIP codes with HUD Small Area Fair Market Rent data: 914
- Counties covered: 87
- ZIP codes with a Zillow Observed Rent Index series: 172 of 914
- Latest Zillow ZORI month: 2026-07
- Latest HUD fiscal year: FY2026. First fiscal year on file: FY2021.
- Statewide median 2 bedroom fair market rent, FY2026: $1,090
- Statewide median year over year change in the 2 bedroom FMR: +4.1 percent

### Statewide median 2 bedroom fair market rent by fiscal year

| Fiscal year | Median 2BR FMR | ZIP codes reporting |
|---|---|---|
| FY2021 | $1,070 | 469 |
| FY2022 | $1,110 | 468 |
| FY2023 | $1,170 | 469 |
| FY2024 | $1,250 | 471 |
| FY2025 | $1,040 | 915 |
| FY2026 | $1,090 | 911 |

Read this column of medians with care. HUD published Small Area Fair Market Rents for only the metro
ZIP codes in the earlier fiscal years and expanded to statewide coverage later, so the ZIP codes
reporting column changes and the statewide median moves with coverage as well as with rent. Year over
year change for a single ZIP code, which is what every ZIP and county page reports, compares like with
like and is the honest measure of movement.

## County table

Median 2 bedroom HUD fair market rent, median Zillow market asking rent where Zillow covers ZIP codes in
the county, and the median year over year change in the 2 bedroom FMR. Every county has a page at
https://pencilwrite.com/rents/county/<slug>/ where slug is the lowercase county name with non alphanumeric runs
collapsed to one hyphen.

| County | ZIP codes | Median 2BR FMR | Median market rent | Median YoY |
|---|---|---|---|---|
| Aitkin | 8 | $1,000 | no data | +3.1% |
| Anoka | 12 | $2,060 | $1,806 | +1.9% |
| Becker | 13 | $1,000 | no data | +4.9% |
| Beltrami | 14 | $1,000 | $1,357 | -2.0% |
| Benton | 5 | $1,270 | $1,133 | +4.1% |
| Big Stone | 7 | $990 | no data | +3.2% |
| Blue Earth | 12 | $1,180 | $1,199 | +5.0% |
| Brown | 7 | $970 | no data | +4.3% |
| Carlton | 11 | $1,180 | $1,160 | +6.2% |
| Carver | 12 | $1,630 | $2,185 | +4.1% |
| Cass | 11 | $990 | no data | +4.3% |
| Chippewa | 5 | $970 | no data | +4.3% |
| Chisago | 10 | $1,520 | $980 | +4.1% |
| Clay | 14 | $1,150 | $1,625 | +10.8% |
| Clearwater | 5 | $1,010 | no data | +5.2% |
| Cook | 6 | $1,180 | no data | +4.3% |
| Cottonwood | 6 | $1,010 | no data | +5.1% |
| Crow Wing | 14 | $1,170 | $1,040 | +4.9% |
| Dakota | 20 | $1,800 | $1,734 | +2.2% |
| Dodge | 6 | $1,210 | no data | +16.3% |
| Douglas | 10 | $1,000 | $1,378 | +4.2% |
| Faribault | 11 | $990 | no data | +4.3% |
| Fillmore | 12 | $1,080 | no data | +7.1% |
| Freeborn | 12 | $980 | $1,046 | +4.3% |
| Goodhue | 10 | $1,270 | $1,313 | +4.5% |
| Grant | 7 | $1,000 | no data | +4.3% |
| Hennepin | 72 | $1,780 | $1,838 | +1.7% |
| Houston | 7 | $1,080 | no data | +6.9% |
| Hubbard | 6 | $1,030 | no data | +8.6% |
| Isanti | 6 | $1,550 | $2,200 | +1.3% |
| Itasca | 24 | $1,070 | $1,225 | +2.7% |
| Jackson | 5 | $1,030 | $1,126 | +6.2% |
| Kanabec | 2 | $1,520 | no data | +4.1% |
| Kandiyohi | 11 | $1,020 | $976 | +4.3% |
| Kittson | 10 | $990 | no data | +4.3% |
| Koochiching | 11 | $990 | no data | +4.3% |
| Lac qui Parle | 5 | $1,020 | no data | +2.0% |
| Lake | 6 | $1,290 | no data | +6.2% |
| Lake of the Woods | 4 | $1,120 | no data | +7.5% |
| Le Sueur | 9 | $1,120 | $1,418 | +1.8% |
| Lincoln | 5 | $990 | no data | +4.3% |
| Lyon | 10 | $990 | no data | +4.3% |
| Mahnomen | 4 | $980 | no data | +4.3% |
| Marshall | 11 | $1,010 | no data | +3.3% |
| Martin | 10 | $1,050 | no data | +4.3% |
| McLeod | 8 | $1,030 | no data | +4.3% |
| Meeker | 7 | $1,030 | no data | +4.3% |
| Mille Lacs | 8 | $1,260 | $1,275 | +4.1% |
| Morrison | 12 | $1,030 | no data | +4.3% |
| Mower | 14 | $970 | $1,041 | -1.0% |
| Murray | 8 | $1,120 | no data | +1.0% |
| Nicollet | 5 | $1,060 | $1,225 | +0.0% |
| Nobles | 11 | $1,020 | no data | +1.0% |
| Norman | 9 | $1,070 | no data | +3.9% |
| Olmsted | 11 | $1,410 | $1,693 | +4.4% |
| Otter Tail | 20 | $1,010 | $914 | +3.2% |
| Pennington | 3 | $1,130 | $1,260 | +2.3% |
| Pine | 12 | $1,100 | no data | +2.6% |
| Pipestone | 7 | $980 | no data | +4.3% |
| Polk | 16 | $1,000 | $945 | +6.5% |
| Pope | 6 | $1,080 | no data | +1.9% |
| Ramsey | 20 | $1,640 | $1,522 | +4.1% |
| Red Lake | 4 | $1,010 | no data | +4.3% |
| Redwood | 14 | $970 | no data | +4.3% |
| Renville | 10 | $1,030 | no data | +4.3% |
| Rice | 8 | $1,540 | $1,745 | +4.1% |
| Rock | 8 | $980 | no data | +4.3% |
| Roseau | 8 | $1,010 | no data | +4.3% |
| Scott | 7 | $1,860 | $1,927 | +2.8% |
| Sherburne | 5 | $1,600 | $1,750 | +4.1% |
| Sibley | 7 | $1,060 | no data | +4.3% |
| St. Louis | 48 | $1,130 | $1,605 | +8.2% |
| Stearns | 29 | $1,170 | $1,228 | +2.6% |
| Steele | 5 | $1,150 | $1,168 | +10.6% |
| Stevens | 5 | $970 | no data | +4.3% |
| Swift | 7 | $970 | no data | +2.1% |
| Todd | 10 | $980 | no data | +4.3% |
| Traverse | 4 | $1,060 | no data | +4.3% |
| Wabasha | 9 | $1,210 | no data | +8.6% |
| Wadena | 5 | $980 | no data | +4.3% |
| Waseca | 4 | $1,060 | no data | +1.0% |
| Washington | 18 | $2,000 | $1,990 | +1.8% |
| Watonwan | 7 | $990 | no data | +5.3% |
| Wilkin | 7 | $1,130 | no data | +2.8% |
| Winona | 8 | $1,140 | $1,171 | +11.6% |
| Wright | 15 | $1,520 | $1,720 | +4.1% |
| Yellow Medicine | 7 | $1,010 | no data | +4.3% |

## Section 8 fair market rent versus market rent

- ZIP codes carrying both a HUD FMR and a Zillow ZORI value: 172
- Voucher competitive ZIP codes, where the 2 bedroom FMR meets or exceeds market asking rent: 97
- Median spread, market rent against 2 bedroom FMR: -2.5 percent
- Full table: https://pencilwrite.com/rents/section-8/ . JSON: https://pencilwrite.com/api/v1/section-8.json

### Top 15 voucher competitive ZIP codes

Sorted by the largest gap in the voucher's favor, that is, where the fair market rent exceeds market
asking rent by the widest percentage.

| ZIP | City | 2BR FMR | Market rent | Spread | Spread percent |
|---|---|---|---|---|---|
| 55069 | Rush City | $1,520 | $980 | -$540 | -35.5% |
| 55320 | Clearwater | $1,520 | $1,100 | -$420 | -27.6% |
| 55306 | Burnsville | $1,920 | $1,409 | -$511 | -26.6% |
| 55130 | Saint Paul | $1,520 | $1,126 | -$394 | -25.9% |
| 56379 | Sauk Rapids | $1,520 | $1,133 | -$387 | -25.5% |
| 55445 | Minneapolis | $2,560 | $1,915 | -$645 | -25.2% |
| 55402 | Minneapolis | $2,150 | $1,653 | -$497 | -23.1% |
| 55101 | Saint Paul | $2,040 | $1,576 | -$464 | -22.7% |
| 55401 | Minneapolis | $2,560 | $2,002 | -$558 | -21.8% |
| 55408 | Minneapolis | $1,910 | $1,513 | -$397 | -20.8% |
| 56304 | Saint Cloud | $1,520 | $1,204 | -$316 | -20.8% |
| 55431 | Minneapolis | $2,100 | $1,713 | -$387 | -18.4% |
| 55105 | Saint Paul | $1,640 | $1,341 | -$299 | -18.2% |
| 55114 | Saint Paul | $1,960 | $1,618 | -$342 | -17.4% |
| 55121 | Saint Paul | $1,880 | $1,557 | -$323 | -17.2% |

## Definitions

HUD Small Area Fair Market Rent (SAFMR). HUD's estimate of the 40th percentile of gross rent, rent plus
tenant paid utilities, for standard quality units, computed per ZIP code rather than per metro. Published
on a federal fiscal year basis, so FY2026 values take effect in the preceding October. It is a percentile
of the existing rent distribution, not a forecast and not a ceiling. The 2 bedroom figure is the headline
benchmark throughout this dataset because it is the most common voucher unit size and the most comparable
across ZIP codes. Studio through 4 bedroom values are published per ZIP code.

Zillow Observed Rent Index (ZORI). A smoothed, repeat rent index of asking rents, reported monthly as a
mean of listed asking rents in the 35th to 65th percentile band, weighted to reflect the whole rental
stock. It covers all unit sizes together, not 2 bedrooms alone, and it measures asking rent on units
coming to market rather than rent collected across every lease in place. ZORI is an index, not a quote.
Zillow publishes it only for ZIP codes with enough listing volume.

Census ACS median gross rent. The American Community Survey's median gross rent, rent plus utilities, for
occupied rental units by ZIP Code Tabulation Area. A survey of what renters actually pay, including long
tenured tenants below market, so it typically reads below both FMR and ZORI. It is a five year rolling
estimate, so it lags and it smooths.

Spread. Market rent minus the 2 bedroom fair market rent, in dollars. Positive means asking rents run
above the voucher payment standard.

Spread percent. The spread divided by the 2 bedroom fair market rent. Because the two inputs measure
different things, the spread is a screening signal for where to pull comps, not a valuation.

Voucher competitive. A ZIP code where the 2 bedroom fair market rent meets or exceeds the Zillow market
asking rent, that is, where the spread is zero or negative. In those ZIP codes a landlord renting to a
Housing Choice Voucher tenant at the payment standard collects as much or more than chasing an open
market tenant.

Update cadence. HUD publishes SAFMR once a year in the fall for the fiscal year beginning that October.
Zillow publishes ZORI monthly, generally in the first week, covering the prior month. Census ACS updates
annually. These pages are regenerated monthly.

Known limits. Public housing authority payment standards run from 90 to 110 percent of the published FMR
and are NOT included in this dataset, so confirm the actual standard with the housing authority before
underwriting voucher income. Unit condition is invisible to both FMR and ZORI. The bedroom mix differs
between the two sources, a 2 bedroom benchmark against an all sizes index. A single ZIP code can span very
different rent levels, and the median hides that range.

## How to cite

Pencilwrite MN Rent Data, pencilwrite.com/rents/

Licensed CC BY 4.0, https://creativecommons.org/licenses/by/4.0/. Commercial use is fine, attribution is the only condition. Underlying
sources retain their own terms: HUD SAFMR is public domain, Zillow ZORI is published by Zillow Research
under its own terms of use, and Census ACS is public domain.