Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $297,555 | 0.52% | F |
| 3BR | $2,040 | $350,782 | 0.58% | F |
| 4BR | $2,280 | $389,249 | 0.59% | F |
| 5BR | $2,645 | $449,313 | 0.59% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 55070, encompassing Saint Francis, MN, reveal a market in flux. The Fair Market Rent (FMR) for the area stands at $1530 for fiscal year 2024, while the actual market rent is reported at $1,204 according to Census ACS data. This suggests that there is currently a gap between the FMR and the actual rents, which could indicate a market where supply slightly outpaces demand. However, the presence of a price-cut share of only 0.2% implies that landlords are generally able to maintain their rental prices without significant concessions, hinting at a resilient demand base.
The median home value of $347,599 places Saint Francis within a range that is likely attractive to both first-time buyers and investors looking for stable returns. Despite the lack of specific data on days on market (DOM), the low price-cut share suggests that homes are selling relatively quickly once listed, indicating a strong buyer interest and potentially limited inventory.
A key factor influencing the market is the 13.7% share of renters. While this percentage might seem modest, it points to a significant segment of the population that is not owner-occupied. This can create long-term housing pressure as renters may eventually seek to become homeowners, increasing demand for residential properties. Additionally, a higher renter share often correlates with a greater need for rental units, supporting the case for continued investment in multi-family properties or single-family rentals.
In summary, the snapshot of the Saint Francis market suggests a balance between supply and demand, with slight indications towards a demand-driven environment. The relatively low renter share does not necessarily point to a high vacancy rate but rather to a scenario where rental properties play a crucial role in accommodating those who are either unable or unwilling to purchase homes. For landlords and small-portfolio investors, the combination of moderate rents, a low price-cut share, and a steady median home value offers a promising outlook for maintaining property values and rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.