The median 2 bedroom fair market rent across Dakota County's 20 tracked ZIP codes is $1,800 for FY2026, and typical market asking rent runs around $1,734. Rents here moved +2.2 percent year over year.
| ZIP | City | 2BR FMR | YoY | Market rent |
|---|---|---|---|---|
| 55044 | Lakeville | $2,180 | +1.9% | $2,074 |
| 55068 | Rosemount | $1,990 | -2.0% | $2,033 |
| 55124 | Saint Paul | $1,960 | +2.6% | $1,916 |
| 55306 | Burnsville | $1,920 | +1.6% | $1,409 |
| 55123 | Saint Paul | $1,900 | +0.5% | $1,734 |
| 55065 | Randolph | $1,880 | +0.0% | |
| 55121 | Saint Paul | $1,880 | +3.3% | $1,557 |
| 55337 | Burnsville | $1,820 | +2.2% | $1,508 |
| 55122 | Saint Paul | $1,810 | +3.4% | $1,667 |
| 55010 | Castle Rock | $1,800 | +1.1% | |
| 55077 | Inver Grove Heights | $1,760 | +3.5% | $1,832 |
| 55024 | Farmington | $1,700 | -1.7% | $1,986 |
| 55076 | Inver Grove Heights | $1,670 | -2.3% | $1,699 |
| 55118 | Saint Paul | $1,550 | +0.0% | $1,468 |
| 55031 | Hampton | $1,520 | +4.1% | |
| 55033 | Hastings | $1,520 | +2.0% | $1,742 |
| 55075 | South Saint Paul | $1,520 | +4.1% | $1,489 |
| 55085 | Vermillion | $1,520 | +4.1% | |
| 55120 | Saint Paul | $1,520 | +4.1% | $2,218 |
| 55150 | Mendota | $1,520 | +4.1% |
FMR is the HUD Fair Market Rent for each ZIP, the 40th percentile of gross rents. Market rent is the latest Zillow ZORI where Zillow covers that ZIP.
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The median 2 bedroom HUD fair market rent across Dakota County's 20 tracked ZIP codes is $1,800 for FY2026. Typical market asking rent runs around $1,734 per Zillow. Rent varies by ZIP, so use the table on this page for a specific area.
Mendota 55150 saw the biggest increase, +4.1 percent year over year. Inver Grove Heights 55076 saw the biggest decrease, -2.3 percent.
Fair Market Rent is HUD's estimate of the 40th percentile gross rent for a ZIP code. It sets Section 8 payment standards, so it is the rent a voucher will support there. Investors use it as a conservative floor when underwriting rental income.
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