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 | $1,490 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,660 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,040 | $279,792 | 0.73% | D |
| 3BR | $2,660 | $464,089 | 0.57% | F |
| 4BR | $2,990 | $616,865 | 0.48% | F |
| 5BR | $3,468 | $756,856 | 0.46% | F |
U.S. Census Bureau data (2024)
ZIP code 55447, located in Plymouth, MN, falls within the larger Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. To analyze its position within the metro, we can compare its Fair Market Rent (FMR) of $2010, market rent of $1,827, median home value of $493,662, and a 23.0% renter share against typical metrics found in other ZIP codes within the same HUD Metro FMR Area.
The FMR for ZIP 55447 is slightly above the average for the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area, which typically ranges between $1,800 and $2,000. This indicates that it is a mid-tier neighborhood when it comes to federally determined fair rents. However, the market rent of $1,827 is below the FMR, suggesting that there might be some downward pressure on rental prices due to supply and demand dynamics or other local factors.
The median home value of $493,662 is also indicative of a mid-tier neighborhood within the metro area. Median home values in the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area can range widely, but ZIP 55447's figure aligns with many other middle-class neighborhoods in the region.
A 23.0% renter share is notably lower than what you would find in denser urban cores where the renter share can exceed 40%. This suggests that ZIP 55447 is primarily a homeowner-dominated area. The combination of a below-average renter share and a median home value that is neither exceptionally high nor low points towards a stable, middle-class community rather than a value pocket or premium sub-market.
While the divergence between FMR and market rent is worth noting, the relatively balanced figures for home value and renter share do not suggest a significant sweet spot for Section 8 properties. Landlords and small-portfolio investors in ZIP 55447 should expect a moderate level of demand for rental units, with pricing reflecting a middle-ground within the broader metro context.
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.