Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,590 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,190 |
| 5 Bedrooms | $3,700 |
| 6 Bedrooms | $4,144 |
| 7 Bedrooms | $4,476 |
| 8 Bedrooms | $4,700 |
U.S. Census Bureau data (2024)
The ZIP code 55436, located in Edina, MN, stands out within Hennepin County due to its affluent demographic and high property values. With a population of 14,462 residents, 24.3% of whom rent their homes, the median household income is notably high at $144,129. This economic strength is reflected in the median home value, which is also impressively high at $630,393.
In terms of Section 8 housing economics, the Fair Market Rent (FMR) for ZIP 55436 in fiscal year 2024 is set at $1,900. This figure contrasts with the market rate, as indicated by the Zillow Rent Index (ZORI), which currently sits at $1,741. Landlords and small-portfolio investors should take note of this discrepancy; it suggests that accepting Section 8 vouchers could provide a slight premium over the typical market rental rates, making it an attractive option despite the higher administrative burden.
When assessing the overall stability of ZIP 55436, the data points towards a stable environment. The relatively low percentage of renters and high median income levels indicate a community with strong financial health and a lower likelihood of significant economic shifts. Additionally, the high median home value signals a robust real estate market that is less prone to volatility. These factors combined suggest that ZIP 55436 is a secure investment area for those interested in Section 8 properties.
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.