Logo Rochester Fair Market Rent FY 2024 Rochester, MN HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Rochester, MN :
$814 $927 $1,148 $1,618 $1,948
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Rochester are high compared to the national average. This FMR area is more expensive than 84% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Rochester is $1,148 per month.

The previous year, rent for a two-bedroom home was $1,224 per month. This is a 6.21% decrease year-over-year.

This FMR rate applies to Sargeant, MN, Waltham, MN, Claremont, MN, West Concord, MN, Hayfield, MN, Mantorville, MN, Kenyon, MN, Blooming Prairie, MN, Dodge Center, MN, Pine Island, MN and other cities within the region. The Metro Code or CBSA code for this region is METRO40340M40340.

Additionally, This Fair Market Rent (FMR) area Rochester, MN HUD Metro FMR Area spans one county or city in Minnesota which is listed in the table below. Estimated population of Rochester, MN HUD Metro FMR Area FMR area is 20,807 people based on latest Census data.

Compared to the rest of Minnesota, the Rochester FMR area is more expensive than 97% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Rochester. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Rochester

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 899
1-BR 1-Bedroom $ 1024
2-BR 2-Bedroom $ 1268
3-BR 3-Bedroom $ 1787
4-BR 4-Bedroom $ 2152
Change Year:

There is just one county (listed below) within the Rochester, MN HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers two metro areas: Minneapolis - St. Paul and Rochestr - Mason City - Austin.

County / Region Est. Population
Rochester, MN Metro 20,807
Zip Codes in Rochester, MN HUD Metro FMR Area

There are 11 unique zip codes in this Fair Market Rent (FMR) area:

55917, 55924, 55927, 55940, 55944, 55946, 55955, 55963, 55973, 55982 and 55985

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