Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The market in ZIP code 55150 presents a dynamic environment where the Federal Market Rent (FMR) stands at $1270 for fiscal year 2024. In contrast, the market rent reported by the Census American Community Survey (ACS) is $875, indicating a notable gap between government-set rental standards and actual market conditions. This discrepancy suggests that the demand for affordable housing units might be higher than the supply, particularly those meeting the FMR criteria.
The renter share of 23.3% provides insight into the long-term housing pressure within the area. A higher percentage of renters often correlates with increased housing stress, especially when rental prices approach or exceed the FMR. This can imply ongoing challenges for tenants seeking affordable housing options, which could persist over the long term if not addressed through policy or market adjustments.
Despite the lack of specific data on price-cut shares, days on market (DOM), and median home values, the current FMR and market rent figures paint a picture of an evolving market. Landlords and small-portfolio investors should consider these factors when evaluating their investment strategies in ZIP 55150. The potential for increasing tenant demand for affordable units could present opportunities for those willing to align their offerings with the FMR guidelines.
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.