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 | $1,610 |
| 1 Bedroom | $1,810 |
| 2 Bedrooms | $2,200 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,220 |
| 5 Bedrooms | $3,735 |
| 6 Bedrooms | $4,183 |
| 7 Bedrooms | $4,518 |
| 8 Bedrooms | $4,744 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,810 | $203,499 | 0.89% | C |
| 2BR | $2,200 | $290,872 | 0.76% | D |
| 3BR | $2,870 | $483,826 | 0.59% | F |
| 4BR | $3,220 | $560,510 | 0.57% | F |
| 5BR | $3,735 | $651,467 | 0.57% | F |
U.S. Census Bureau data (2024)
2110 is the Fair Market Rent (FMR) for ZIP code 55442 in Plymouth, MN, as set for fiscal year 2024. This means that landlords can charge up to $2110 per month for a two-bedroom apartment under the Section 8 program. In contrast, the Zillow Observed Rent Index (ZORI), which reflects the actual market conditions, stands at $2,021 for the same type of unit, indicating a slight premium over the FMR. The median home value in the area is $471,629, showing a substantial investment opportunity for those looking to buy properties. Renter share is at 20.4%, suggesting a moderate demand for rental housing. The median income of $123,859 provides insight into the financial health of potential tenants and their ability to afford higher rents. While the day DOM (days on market) is not available, the price-cut share is only 0.2%, implying that once listed, homes in this area typically sell without needing to be relisted at a lower price. Given these figures, it's clear that the rental market in Plymouth, MN is robust, but slightly below the market rate for Section 8 units. For landlords and small-portfolio investors, the gap between the FMR and ZORI offers an opportunity to attract non-subsidized tenants willing to pay more, while still maintaining eligibility for Section 8 participants.
Based on the data, the verdict for Section 8 participation in ZIP 55442 is positive, with strong market fundamentals supporting both subsidized and market-rate rentals.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.