Section 8 Fair Market Rent (FMR) for ZIP 55316 - 2027

Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area

Investment Score for ZIP 55316

Monthly Rent (2BR)

$1,950

Median Price (2BR)

$326,207

1% Rule

0.6%

Annual Yield

7.17%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,420
1 Bedroom	$1,600
2 Bedrooms	$1,950
3 Bedrooms	$2,550
4 Bedrooms	$2,850
5 Bedrooms	$3,306
6 Bedrooms	$3,703
7 Bedrooms	$3,999
8 Bedrooms	$4,199

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,950	$326,207	0.6%	F
3BR	$2,550	$367,881	0.69%	D
4BR	$2,850	$429,833	0.66%	D
5BR	$3,306	$554,234	0.6%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

23,294

Median Household Income

$116,102

Housing Units

8,892

Renter Percentage

11.9%

Occupancy Rate

96.8%

Renter Occupied

1,026

The ZIP code 55316, located in Champlin, Minnesota, is part of a suburban area characterized by its growing population and steady economic conditions. This region offers a mix of residential and commercial properties, making it an attractive location for both living and investment.

The Fair Market Rent (FMR) for ZIP 55316 is set at $1,820 for fiscal year 2024, indicating the government's benchmark for rental affordability.
The market rent, as measured by Zillow's ZORI (Zestimate Rent Index), stands at $2,201, reflecting a slightly higher actual rent price compared to the FMR.
The median home value in Champlin is $370,686, which provides a solid base for property values and potential appreciation.
Renters make up 11.9% of the housing market, suggesting a smaller but significant portion of the population that relies on rental properties.
The days on market (DOM) for rental listings average 29 days, which is relatively quick and suggests a healthy demand for rental units.
The median household income in the area is $116,102, providing tenants with a strong financial capacity to meet rental obligations.

The data points indicate that Champlin presents a balanced opportunity for landlords and small-portfolio investors. With market rents above the FMR and a quick turnaround time for listings, there is a clear demand for rental properties. The median income supports the ability of residents to pay higher rents, while the median home value signals a stable real estate market. However, the lower renter share suggests a need to focus on attracting and retaining tenants to capitalize fully on these favorable conditions.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.