Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,530 |
| 1 Bedroom | $1,730 |
| 2 Bedrooms | $2,100 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,070 |
| 5 Bedrooms | $3,561 |
| 6 Bedrooms | $3,988 |
| 7 Bedrooms | $4,307 |
| 8 Bedrooms | $4,522 |
U.S. Census Bureau data (2024)
The ZIP code 55434 in Blaine, Minnesota, stands out within Anoka County due to its unique demographic and economic characteristics. With a population of 33,029, it has a relatively low rental rate of 17.8%, indicating that homeownership is prevalent among its residents. The median income of $90,336 suggests a middle-class community, while the median home value of $332,563 reflects a stable housing market.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 55434 in fiscal year 2024 is set at $1780, which is notably lower than the market rent, measured by ZORI (Zillow Observed Rent Index), at $1,888. This means that landlords accepting Section 8 vouchers will receive slightly less than the average market rent for similar properties, but the difference is minimal, making it a viable option for maintaining occupancy rates.
The data signature for ZIP 55434 reads as stable. Despite the slight disparity between the FMR and market rent, the overall indicators point towards a steady community where both income and home values suggest a consistent economic environment. Landlords and small-portfolio investors can expect a reliable tenant base, with the majority of residents owning their homes and a significant portion able to afford market rents.
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.