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 | $1,200 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,640 | $373,496 | 0.44% | F |
| 3BR | $2,140 | $426,306 | 0.5% | F |
| 4BR | $2,400 | $482,510 | 0.5% | F |
| 5BR | $2,784 | $534,971 | 0.52% | F |
U.S. Census Bureau data (2024)
1650 is the Fair Market Rent (FMR) for ZIP code 55322 as set by HUD for fiscal year 2024, indicating the maximum rental amount allowed for low-income families participating in the Section 8 program. 868 is the average market rent reported by the Census Bureau's American Community Survey, showing that the FMR is significantly higher than what most renters pay, which can be advantageous for landlords seeking to maximize their subsidy. 448,827 is the median home value in this area, reflecting a stable housing market that can support both rental and homeownership investments. 8.9% is the proportion of households that are renters, suggesting a moderate demand for rental properties in the area. 124,861 is the median household income, which is below the national average and supports the presence of a significant number of eligible Section 8 participants. Despite these figures, N/A shows the lack of available data on days on market (DOM), making it difficult to assess how quickly rental units are occupied once listed. Similarly, N/A indicates an absence of information on the percentage of properties that have had their prices cut, which could be crucial for understanding the competitive landscape and setting realistic expectations for rental income. In conclusion, 55322 presents a balanced opportunity for Section 8 participation, with favorable FMRs and a supportive median income level, though data gaps exist regarding the speed of property occupancy and pricing adjustments.
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.