Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,300 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
U.S. Census Bureau data (2024)
ZIP code 55427, located in Crystal, MN, falls within the larger Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. The Federal Market Rent (FMR) for ZIP 55427 is set at $1640 for fiscal year 2024, which is slightly above the average market rent of $1,570. This indicates that Crystal leans towards being a mid-tier neighborhood within the metro area, offering rents that are modestly higher than the market average but not excessively so.
The median home value in Crystal is $367,324, which is a critical figure for landlords and small-portfolio investors. This value suggests that Crystal is neither a value pocket nor a premium sub-market compared to other ZIP codes within the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. It represents a middle ground where property values are reasonable but not undervalued.
A notable aspect of ZIP 55427 is its 33.0% renter share, which is higher than the typical metro area. This high proportion of renters can be advantageous for landlords, as it implies a strong demand for rental properties. However, the home value in Crystal does not significantly diverge from the metro average, suggesting that while there is a robust rental market, it does not necessarily indicate an undervalued property market.
In conclusion, Crystal stands as a mid-tier neighborhood within its metro area, characterized by slightly above-average rents and a median home value that aligns closely with the broader market. Its elevated renter share makes it particularly appealing for those interested in Section 8 investments, as it suggests a vibrant rental market without the accompanying premium on home values.
Data Sources: FMR data from HUD (2027). 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.