Section 8 Fair Market Rent (FMR) for ZIP 55374 - 2027

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

Investment Score for ZIP 55374

Monthly Rent (2BR)

$1,960

Median Price (2BR)

$423,922

1% Rule

0.46%

Annual Yield

5.55%

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	$1,430
1 Bedroom	$1,610
2 Bedrooms	$1,960
3 Bedrooms	$2,560
4 Bedrooms	$2,870
5 Bedrooms	$3,329
6 Bedrooms	$3,728
7 Bedrooms	$4,026
8 Bedrooms	$4,227

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	$1,960	$423,922	0.46%	F
3BR	$2,560	$424,341	0.6%	D
4BR	$2,870	$511,258	0.56%	F
5BR	$3,329	$539,050	0.62%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

16,661

Median Household Income

$144,714

Housing Units

5,764

Renter Percentage

12.2%

Occupancy Rate

98.8%

Renter Occupied

696

The ZIP code 55374, located in Rogers, Minnesota, is a suburban area characterized by its proximity to the Twin Cities metropolitan region, which influences its rental market dynamics. This area offers a mix of residential and commercial spaces, making it attractive for both tenants and property owners.

The Fair Market Rent (FMR) for ZIP 55374 in fiscal year 2024 is set at $1,810, indicating the average monthly rent for a two-bedroom apartment, as determined by HUD.
The Zillow Observed Rental Index (ZORI) shows that the market rent for the area is $1,895, suggesting that properties are slightly above the HUD benchmark in terms of pricing.
The median home value in Rogers is $470,685, reflecting the overall real estate valuation and providing a baseline for potential investment returns.
Renters make up 12.2% of the housing market in ZIP 55374, which is relatively low compared to national averages, pointing towards a predominantly owner-occupied community.
The median income in the area is $144,714, indicating a higher-than-average economic status among residents, which can translate into a stable tenant base capable of paying competitive rents.

Given these metrics, investors should note that while the rental market is competitive and slightly above the government-set FMR, the low renter share suggests a strong preference for homeownership. However, the high median income supports the ability of renters to pay premium rates, making Rogers a viable option for those looking to invest in rental properties with a solid financial backing. The median home value also provides a robust foundation for long-term appreciation and equity growth, though it may limit the number of units available for rental investment due to the homeowner-dominated market.

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.