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FY2017 Hypothetical Small Area FMRs For Clay County, MN

In metropolitan areas, HUD defines Small Areas using ZIP Codes within the metropolitan area. Using ZIP codes as the basis for FMRs provides tenants with greater ability to move into ?Opportunity Neighborhoods? with jobs, public transportation, and good schools. They also provide for multiple payment standards within a metropolitan area, and they are likely to reduce need for extensive market area rent reasonableness studies. Lastly, HUD hopes that setting FMRs for each ZIP code will reduce overpayment in lower-rent areas.

Clay County is part of the Fargo, ND-MN MSA.

Clay County, MN Hypothetical Small Area FMRs By Unit Bedrooms
ZIP Code Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom ZIP/CBSA Ratio
56514 $440 $540 $690 $1,000 $1,150 0.894
56519 $510 $620 $790 $1,150 $1,310 1.036
56525 $510 $620 $790 $1,150 $1,310 1.036
56529 $500 $610 $780 $1,140 $1,300 1.019
56536 $440 $530 $680 $990 $1,130 0.534
56546 $510 $620 $790 $1,150 $1,310 1.036
56547 $440 $530 $680 $990 $1,130 0.751
56549 $470 $570 $730 $1,060 $1,210 0.951
56552 $440 $530 $680 $990 $1,130 0.694
56554 $440 $530 $680 $990 $1,130 0.839
56560 $520 $640 $810 $1,180 $1,350 1.053
56561 $510 $620 $790 $1,150 $1,310 1.036
56563 $510 $620 $790 $1,150 $1,310 1.036
56580 $620 $760 $970 $1,410 $1,610 1.261
56585 $460 $560 $720 $1,050 $1,200 0.938
56594 $510 $620 $790 $1,150 $1,310 1.036

* Small Area FMRs presented with an asterisk are calculated in accordance with the Guidance For Preparing Comments on Small Area FMRs available at here.

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