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Housing market/Minnesota/ZIP 55404

ACS 2023 · FY2027 SAFMR

ZIP 55404 Minneapolis, Minnesota

Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area · Minnesota. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
28,071
Households
12,679
Median HH income
$43,932
Renter share
82.5%
Median gross rent
$1,063
Vacancy
11.8%
Pop. change
+3.2%
2BR SAFMR
$1,630
SAFMR / rent
1.533×
2–49 unit stock
7,903
LIHTC proj / units
32 / 2,666
HUD assisted MF
17 / 964

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 55404 · MN — sent to you.

ZIP 55404 · MN

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ACS rent vs 2BR SAFMR

ZIP 55404 — Minneapolis, MN HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,063
2BR SAFMR$1,630
90% floor$1,467
110% ceiling$1,793

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 55404

  • 1-unit detached1,1788.2%
  • 1-unit attached8365.8%
  • 2–4 units1,64711.5%
  • 5–49 units6,25643.5%
  • 50+ units4,30129.9%
  • Mobile1541.1%
TypeUnitsShare
1-unit detached1,1788.2%
1-unit attached8365.8%
2 units (duplex)8405.8%
3–4 units8075.6%
5–9 units7435.2%
10–19 units2,03014.1%
20–49 units3,48324.2%
50+ units4,30129.9%
Mobile1541.1%

2–4 unit share 11.5% · 5–49 unit share 43.5% · combined 2–49 55.0%.

Units by bedrooms

Studio
3,257
1BR
5,181
2BR
3,633
3BR
1,615
4BR
521
5+
165

Rent burden

Rent ≥30% of income48.3%
Rent ≥50% of income24.0%
  • ACS median gross rent $1,063 (all bedrooms, occupied rentals).
  • Median contract rent $983.
  • Renters paying ≥30% of income 48.3%; ≥50% 24.0%.
  • FY2027 2BR SAFMR $1,630 (1.533× ACS median gross rent).

Population

28,071 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +3.2%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 32 projects, 2,666 units.
  • HUD project-based assisted MF: 17 properties, 964 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 1,804 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 55404 82.5% of occupied households are renters; vacancy is 11.8%; ACS median gross rent is $1,063; population increased +3.2% between the 2018 and 2023 ACS vintages; the housing stock includes 1,647 units in 2–4-unit structures and 6,256 units in 5–49-unit structures; 32 LIHTC projects totaling 2,666 units; FY2027 2BR SAFMR is $1,630 versus ACS median gross rent of $1,063. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Minnesota research

ZIP 55404 is a Census / HUD profile for Minneapolis-St. Paul-Bloomington, MN-WI, MN. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 55404 — Minneapolis, MN HUD Section 8 Payment Standards / SAFMR·Minnesota ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
54002Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area22.0%$1,200$1,54054003Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area1.8%—$1,54054011Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area25.3%$976$1,54054014Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area9.2%$993$1,54054015Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area21.3%$951$1,54054016Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area20.8%$1,431$1,69054021Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area20.5%$1,285$1,54054022Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area29.3%$1,059$1,54054023Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area16.1%$1,587$1,92054028Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area30.1%$898$1,54054082Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area11.1%—$1,57054723Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area15.7%$875$1,540

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Minnesota research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 55404?

ZIP 55404 (Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area) has 28,071 residents, 12,679 households, a renter share of 82.5%, median household income of $43,932, and ACS 2023 median gross rent of $1,063. Vacancy is 11.8%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 55404?

ACS counts 840 units in 2-unit buildings, 807 in 3–4 unit buildings, 743 in 5–9, 2,030 in 10–19, and 3,483 in 20–49. Combined 2–49 unit stock is 7,903 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 55404?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,630. See the full schedule and 90–110% payment-standard band on the ZIP 55404 — Minneapolis, MN HUD Section 8 Payment Standards / SAFMR.

Does this Minnesota ZIP profile include Georgia listings?

No. ZIP 55404 is Census / HUD research for Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Jeff Crowe CRE does not list Minnesota property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.