The 2 bedroom fair market rent in Geneva (Freeborn County) is $970 for FY2026. Rents here moved +1.0 percent year over year. ZIP 56035 sits in the Steele County, MN area.
See how this ZIP compares for Section 8 vouchers, fair market rent against market asking rent for every tracked Minnesota ZIP.
| Unit size | FY2026 FMR | Vs FY2025 | ACS median |
|---|---|---|---|
| Studio | $670 | -8.2% | |
| 1 bedroom | $740 | +0.0% | |
| 2 bedroom | $970 | +1.0% | |
| 3 bedroom | $1,300 | -3.7% | |
| 4 bedroom | $1,550 | -4.9% |
FMR is the HUD Fair Market Rent for this ZIP, the 40th percentile of gross rents. It anchors Section 8 payment standards and runs below top of market. ACS median is the Census survey estimate where available.
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Among the 12 Freeborn County ZIP codes with a HUD rent estimate, 56035 ranks number 9 of 12 on 2 bedroom fair market rent. That is $5 below the county median of $975. The county runs from $970 in Twin Lakes 56089 to $1,320 in Freeborn 56032. Statewide the median 2 bedroom fair market rent is $1,090, which puts Geneva 11 percent below the Minnesota median. Zillow does not publish a rent index for 56035, so the fair market rent is the only published rent benchmark here. The landlord voucher check compares an asking rent against it. Voucher competitiveness for every Freeborn County ZIP code with both signals is on the Freeborn County Section 8 page.
Of the 6 nearest ZIP codes with an estimate, Blooming Prairie 55917 carries the highest 2 bedroom fair market rent at $1,210 and Hollandale 56045 the lowest at $970, against $970 here.
The HUD fair market rent for a 2 bedroom in ZIP 56035 is $970 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 1.0 percent from FY2025 to FY2026, moving from $960 to $970.
Fair Market Rent is HUD's estimate of the 40th percentile gross rent for a ZIP. It sets Section 8 payment standards, so it is the rent a voucher will support here. Investors use it as a conservative floor when underwriting rental income.
Rent level is only one input. Run the numbers: at $970 for a 2 bedroom, a deal in Geneva pencils or it does not based on price, taxes, insurance, and financing. Pencilwrite computes cap rate, cash-on-cash, DSCR, and true ROE from a few inputs.
Pencilwrite turns an address, a price, and these rents into a full underwrite, cap rate, cash-on-cash, DSCR, true ROE, taxes, and an offer you can send. Limited beta access spots open. Sign up for the beta, opening in the next two months. Free.
