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 rent math for ZIP code 55480 in the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR area does not provide a clear picture due to the lack of available market rent data. The Fair Market Rent (FMR) set at $1670 for fiscal year 2024 serves as a benchmark but without comparative market rent figures, it's challenging to determine if the rent aligns with what tenants can afford or what landlords can realistically charge.
Regarding acquisition affordability, the analysis is hindered by the absence of specific data on median home values, days on market (DOM), and the percentage of homes that require a price cut. These metrics are crucial for understanding the local real estate market dynamics and the potential cost and time associated with acquiring rental properties.
Tenant demand in ZIP 55480 cannot be accurately assessed due to the unavailability of population and renter share statistics. Without these numbers, it's difficult to gauge how many potential renters might be in the area and whether they constitute a significant portion of the overall population.
Verdict: A comprehensive analysis of ZIP 55480 for landlords and small-portfolio investors is currently limited by the lack of essential data points such as market rents, median home values, days on market, percentage of homes needing price cuts, and demographic details like population and renter share. To make informed decisions, landlords should seek out additional resources to fill in these gaps and ensure a thorough understanding of the local real estate and rental market conditions.
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.