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 | $1,120 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $2,040 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $285,701 | 0.54% | F |
| 3BR | $2,040 | $412,647 | 0.49% | F |
| 4BR | $2,280 | $525,064 | 0.43% | F |
| 5BR | $2,645 | $574,801 | 0.46% | F |
U.S. Census Bureau data (2024)
ZIP code 55375, located in Saint Bonifacius, MN, falls within the broader Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1480, which is higher than the market rent figure of $1,226. This indicates that properties in this ZIP code may be slightly overpriced compared to what the market would naturally bear, suggesting potential challenges in attracting tenants who do not qualify for Section 8 assistance.
The median home value in 55375 is $451,682, which is on par with typical ZIP codes within the larger metro area. However, the renter share of 7.4% is notably lower than many other areas within the same HUD Metro FMR region, where the average might be higher due to urban density and economic opportunities.
In analyzing these figures, it becomes clear that ZIP 55375 is neither a value pocket nor a premium sub-market within its metro. Instead, it represents a mid-tier neighborhood. The divergence between the FMR and market rent suggests that landlords in this area might find it advantageous to participate in the Section 8 program, given the discrepancy in pricing. However, the relatively low renter share implies fewer potential tenants overall, which could affect demand.
Landlords and small-portfolio investors should consider these factors when evaluating investment opportunities in Saint Bonifacius. While the FMR provides a safety net for rental income, the lower-than-average renter share means competition for tenants could be less intense. This scenario can create a balanced environment for those willing to navigate the nuances of government-subsidized housing programs.
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.