Location: Rochester, MN | Metro: Rochester, MN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,410 |
| 5 Bedrooms | $2,796 |
| 6 Bedrooms | $3,132 |
| 7 Bedrooms | $3,383 |
| 8 Bedrooms | $3,552 |
The rent math in ZIP 55903 does not provide a clear comparison due to the lack of available market rent data. The Fair Market Rent (FMR) set by HUD for FY 2024 is $1170, which represents the benchmark for rental properties in the area. However, without specific market rent figures, it's challenging to determine if this FMR aligns with what tenants are willing to pay.
Regarding property acquisition, the analysis is hampered by the absence of key metrics such as median home value, days on market (DOM), and the percentage of homes that required a price reduction. These figures are essential for understanding the affordability and competitiveness of acquiring properties in ZIP 55903.
Tenant demand in ZIP 55903 can be gauged by the local population size and the percentage of residents who are renters. Unfortunately, the exact population and renter share percentages are not provided, making it difficult to assess the potential occupancy rates and the number of prospective tenants.
Verdict: Without comprehensive data on market rents, median home values, DOM, price-cut shares, and tenant demographics, it's impossible to definitively conclude whether ZIP 55903 is a viable investment for Section 8 landlords and small-portfolio investors. To make an informed decision, further research into these areas is necessary to ensure the financial viability and demand for rental properties in the ZIP code.
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.