Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
The ZIP code 55155 is located in Saint Paul, MN, within Ramsey County. The area is classified as unique or private, suggesting it has distinct characteristics that set it apart from broader regions.
Specifically regarding population, median income, and median home value, the data is currently marked as unavailable. This lack of comprehensive demographic information can make it challenging to form a complete economic profile of the area.
Moving onto the rent economics, the Fair Market Rent (FMR) for ZIP 55155 is set at $1500 for the fiscal year 2024. Without specific data on the market rent, it's difficult to compare the FMR against local market conditions. However, the FMR provides a benchmark for assessing rental properties in this ZIP code.
Given the limited data available, it's prudent to consider both hands-off and hands-on investment strategies. For a hands-off voucher operator, the FMR of $1500 offers a reliable guideline for setting rents that align with government assistance levels. On the other hand, for a hands-on value-add buyer, the opportunity lies in identifying properties where improvements could justify higher rents beyond the FMR, once more detailed market data becomes accessible.
Data Sources: FMR data from HUD (2027).
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.