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 | $1,510 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $2,070 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $3,030 |
| 5 Bedrooms | $3,515 |
| 6 Bedrooms | $3,937 |
| 7 Bedrooms | $4,252 |
| 8 Bedrooms | $4,465 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,070 | $258,596 | 0.8% | C |
| 3BR | $2,700 | $334,826 | 0.81% | C |
| 4BR | $3,030 | $383,140 | 0.79% | D |
| 5BR | $3,515 | $441,928 | 0.8% | D |
U.S. Census Bureau data (2024)
The ZIP code 55448, located in Coon Rapids, MN, has a population of 29,005 residents, with 15.9% being renters. This indicates that the area is not heavily dominated by renters; rather, it leans towards homeownership. The median household income in this ZIP is $103,461, which provides a baseline for understanding the financial capabilities of potential tenants.
When considering the market rent of $1,762, it represents approximately 17% of the median household income. This percentage suggests that the average rent is relatively affordable compared to the income levels in the area. However, the Fair Market Rent (FMR) for the ZIP is set at $1,950 for FY 2024, indicating that the market rent is slightly below the FMR, which could be beneficial for landlords who wish to attract tenants with Section 8 vouchers.
The lower market rent compared to the FMR means that landlords in 55448 can potentially offer units that align with the voucher amount, making it easier to secure tenants. Given the relatively low percentage of renters and the higher median income, landlords should anticipate a tenant pool that includes individuals and families who value the stability and affordability provided by Section 8 vouchers but also have the ability to contribute a portion of their own income towards rent.
In conclusion, while 55448 is not a renter-heavy ZIP, it still offers opportunities for landlords to attract tenants through Section 8 vouchers. With typical rents consuming about 17% of the median income, there is a reasonable balance between affordability and the ability to pay. Landlords should prepare for tenants who are financially stable and capable of meeting the requirements of a Section 8 rental agreement.
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.