Location: Minneapolis-St. Paul-Bloomington, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
The Section 8 housing market in ZIP code 55479, located within the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area, presents unique challenges and opportunities for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for this area, set at $1670 per month for fiscal year 2024, serves as a benchmark for rental income under the Section 8 program. However, without specific market rent data for comparison, it's difficult to definitively state how well voucher tenants will cashflow at this rate.
To derive a rent-to-price ratio, we would typically compare the monthly rent against the median home value. Unfortunately, the median home value for ZIP 55479 is currently unavailable, which hinders a comprehensive analysis of this metric. This ratio is crucial for understanding the local real estate market and how rental income stacks up against property values.
The days on market (DOM) and the percentage of price cuts are also key indicators for assessing the dynamics between renting and buying. These figures help determine how quickly properties sell and at what discount, if any. In ZIP 55479, these statistics are also not available, leaving gaps in our ability to fully analyze the rent-versus-buy scenario.
Despite the lack of complete data, the stability of the HUD FMR can be seen as a strong angle for investors. With a fixed rental income, landlords can plan their finances more predictably, ensuring steady cash flow from voucher tenants. Stability in rental income is particularly valuable in an uncertain economic climate, providing a reliable source of revenue that can support mortgage payments and maintenance costs.
Data Sources: FMR data from HUD (2027).
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.