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 | $1,260 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,260 |
| 4 Bedrooms | $2,530 |
| 5 Bedrooms | $2,935 |
| 6 Bedrooms | $3,287 |
| 7 Bedrooms | $3,550 |
| 8 Bedrooms | $3,728 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,730 | $350,403 | 0.49% | F |
| 3BR | $2,260 | $460,853 | 0.49% | F |
| 4BR | $2,530 | $527,394 | 0.48% | F |
| 5BR | $2,935 | $603,288 | 0.49% | F |
U.S. Census Bureau data (2024)
1630 is the Fair Market Rent (FMR) for ZIP code 55315 in Carver, MN, as determined by HUD for fiscal year 2024. 1386 represents the average market rent reported by the Census Bureau's American Community Survey, indicating a slight premium for Section 8 properties. 500,336 is the median home value in the area, suggesting a stable housing market. 6.4% is the share of renters in the community, which is relatively low, pointing to a predominantly owner-occupied area. 140,893 is the median household income, providing insight into the economic health of the residents. The day DOM (days on market) figure is not available, but 0.1% is the share of homes that have been price-cut, hinting at strong seller demand and minimal negotiation room.
In Carver, MN, the disparity between the HUD Fair Market Rent and the Census-reported market rent highlights the potential profitability of accepting Section 8 tenants. Landlords can command rents up to $1630 per month, significantly higher than the $1386 average market rate, ensuring a positive cash flow. Given the median home value of $500,336, it's evident that property values are robust, offering long-term appreciation potential for investors. With only 6.4% of the population renting, competition for rental properties is fierce, allowing landlords to maintain high occupancy rates. The median income of $140,893 supports the notion that the local economy can sustain higher rents, further justifying the investment in rental properties.
The negligible percentage of homes being price-cut (0.1%) underscores the desirability of properties in this area, reducing the risk of prolonged vacancies. For small-portfolio investors looking to diversify their holdings or for landlords seeking to expand their rental operations, Carver, MN, presents a favorable environment. The combination of a healthy income level, a strong housing market, and the ability to charge above-average rents makes this ZIP code an attractive option for those interested in Section 8 properties.
Given these figures, the verdict on Section 8 properties in ZIP code 55315 is positive, offering both immediate financial benefits and long-term stability for investors.
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.