Section 8 Fair Market Rent (FMR) for ZIP 55924 - 2027

Location: Steele County, MN | Metro: Rochester, MN HUD Metro FMR Area

Investment Score for ZIP 55924

N/A
Monthly Rent (2BR)
$1,270
Median Price (2BR)
$N/A
1% Rule
0%
Annual Yield
0%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$1,010
1 Bedroom$1,080
2 Bedrooms$1,270
3 Bedrooms$1,770
4 Bedrooms$2,130
5 Bedrooms$2,471
6 Bedrooms$2,768
7 Bedrooms$2,989
8 Bedrooms$3,138

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
3BR $1,770 $301,131 0.59% F
4BR $2,130 $358,286 0.59% F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
1,170
Median Household Income
$78,558
Housing Units
515
Renter Percentage
11.0%
Occupancy Rate
89.9%
Renter Occupied
51

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.