Location: Duluth, MN | Metro: Duluth, MN-WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
ZIP code 54880, located in Superior, WI, falls within the Duluth, MN-WI Metropolitan Statistical Area (MSA). Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1050, which is notably lower than the market rent of $1,424. This suggests that 54880 offers a more affordable rental option compared to other ZIP codes within the MSA. The median home value in 54880 stands at $227,765, which is also below the average for the Duluth MSA, indicating that it is likely a value pocket within the broader metropolitan area.
The 36.6% renter share in ZIP 54880 is higher than the typical percentage for ZIP codes within the Duluth, MN-WI MSA. This high proportion of renters combined with below-average home values and rents makes 54880 an attractive location for Section 8 tenants. Landlords and small-portfolio investors should note that while the rental income potential is lower due to the FMR being set at $1050, the demand from renters is strong, making it a viable investment choice for those willing to participate in the Section 8 program.
In summary, ZIP 54880 is positioned as a value pocket within the Duluth MSA, characterized by lower-than-average rental costs and home values, yet a higher-than-average percentage of renters. This combination presents opportunities for investors who can capitalize on the strong rental demand supported by the Section 8 program.
Note:
Data Sources: FMR data from HUD (2027). 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.