Section 8 Fair Market Rent (FMR) for ZIP 55982 - 2027

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

Investment Score for ZIP 55982

N/A

Monthly Rent (2BR)

$1,270

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$333,696	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

551

Median Household Income

$102,344

Housing Units

272

Renter Percentage

6.0%

Occupancy Rate

98.2%

Renter Occupied

ZIP code 55982, located in the state of Minnesota, is a suburban area known for its stable housing market and desirable living conditions. This region offers a mix of rental and homeownership opportunities, catering to a diverse range of residents.

The Fair Market Rent (FMR) for ZIP 55982 in fiscal year 2024 is set at $1,110, indicating the government's benchmark for affordable rental rates in the area.
The average market rent in the ZIP code, according to the latest Census American Community Survey (ACS), is $1,188, slightly above the FMR, suggesting that the private rental market commands a premium over the government standard.
The median home value in ZIP 55982 stands at $279,575, reflecting the overall cost of homeownership and providing a reference point for property values.
Renters make up 6.0% of the total population, which is a relatively low percentage, implying that homeownership is more prevalent in the area.
The median household income in ZIP 55982 is $102,344, demonstrating a robust economic foundation that supports both rental and homeownership markets.
Due to limited data availability, the exact number of days on the market (DOM) for properties in ZIP 55982 is not specified; however, the high median income and stable rental prices suggest that properties generally sell within a reasonable timeframe.

For landlords and small-portfolio investors, ZIP 55982 presents a balanced investment opportunity. With rental prices exceeding the FMR and a strong median income, the area supports healthy cash flows and property appreciation potential. The low renter share indicates a preference for homeownership among residents, but the demand for rental units remains steady, particularly for those priced around the FMR. Overall, the market in ZIP 55982 is stable and attractive, offering solid returns without the volatility seen in more dynamic markets.

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.