Section 8 Fair Market Rent (FMR) for ZIP 54011 - 2027

Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area

Investment Score for ZIP 54011

Monthly Rent (2BR)

$1,540

Median Price (2BR)

$263,507

1% Rule

0.58%

Annual Yield

7.01%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,120
1 Bedroom	$1,270
2 Bedrooms	$1,540
3 Bedrooms	$2,040
4 Bedrooms	$2,280
5 Bedrooms	$2,645
6 Bedrooms	$2,962
7 Bedrooms	$3,199
8 Bedrooms	$3,359

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,540	$263,507	0.58%	F
3BR	$2,040	$324,795	0.63%	D
4BR	$2,280	$380,300	0.6%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,054

Median Household Income

$102,636

Housing Units

2,666

Renter Percentage

21.1%

Occupancy Rate

93.9%

Renter Occupied

529

The ZIP code 54011, encompassing Ellsworth, WI, presents a stable market for real estate investment, particularly for those interested in rental properties. The area is known for its quiet charm and close-knit community, which translates into steady demand for housing.

The Fair Market Rent (FMR) for ZIP 54011 in fiscal year 2024 is set at $1,270, indicating the government's benchmark for affordability in the region.
The average market rent, according to Census ACS data, stands at $1,064, suggesting that there is room for growth towards the FMR level.
The median home value in the area is $335,851, reflecting a moderate cost of entry for homeownership but also a reasonable investment value for rental properties.
Renters make up 21.1% of the population, showing a significant portion of residents who prefer leasing over owning their homes.
While the exact number of days on the market (DOM) for rentals is not available, the consistent data points suggest a balanced market where properties are likely to be rented out promptly.
The median household income in ZIP 54011 is $102,636, providing assurance that tenants can afford higher rents without straining their finances.

Investors looking to enter the Ellsworth, WI, market should note the favorable conditions for rental properties. With a median home value that is approachable and a substantial renter base, there is potential for both rental income and property appreciation. However, the current market rent is below the FMR, offering an opportunity to gradually increase rental rates while still remaining competitive. The strong median income supports higher rent levels, ensuring that tenants can sustainably pay increased rents. Overall, ZIP 54011 presents a solid investment opportunity for those seeking a stable and growing rental market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.