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Housing market/Minnesota/ZIP 55405

ACS 2023 · FY2027 SAFMR

ZIP 55405 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
16,915
Households
8,190
Median HH income
$70,425
Renter share
64.0%
Median gross rent
$1,188
Vacancy
6.1%
Pop. change
+4.6%
2BR SAFMR
$1,540
SAFMR / rent
1.296×
2–49 unit stock
5,343
LIHTC proj / units
10 / 1,004
HUD assisted MF
1 / 92

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 55405 · MN — sent to you.

ZIP 55405 · MN

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ACS rent vs 2BR SAFMR

ZIP 55405 — Minneapolis, MN HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,188
2BR SAFMR$1,540
90% floor$1,386
110% ceiling$1,694

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

Housing stock

ACS 2023 units-in-structure · ZCTA 55405

  • 1-unit detached2,34126.9%
  • 1-unit attached1852.1%
  • 2–4 units1,61518.5%
  • 5–49 units3,72842.8%
  • 50+ units8319.5%
  • Mobile90.1%
TypeUnitsShare
1-unit detached2,34126.8%
1-unit attached1852.1%
2 units (duplex)7228.3%
3–4 units89310.2%
5–9 units8599.8%
10–19 units1,51717.4%
20–49 units1,35215.5%
50+ units8319.5%
Mobile90.1%

2–4 unit share 18.5% · 5–49 unit share 42.7% · combined 2–49 61.2%.

Units by bedrooms

Studio
852
1BR
2,625
2BR
2,385
3BR
1,764
4BR
653
5+
445

Rent burden

Rent ≥30% of income42.4%
Rent ≥50% of income20.2%
  • ACS median gross rent $1,188 (all bedrooms, occupied rentals).
  • Median contract rent $1,084.
  • Renters paying ≥30% of income 42.4%; ≥50% 20.2%.
  • FY2027 2BR SAFMR $1,540 (1.296× ACS median gross rent).

Population

16,915 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +4.6%.

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

Assisted inventory

  • LIHTC: 10 projects, 1,004 units.
  • HUD project-based assisted MF: 1 properties, 92 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 55405 64.0% of occupied households are renters; vacancy is 6.1%; ACS median gross rent is $1,188; population increased +4.6% between the 2018 and 2023 ACS vintages; the housing stock includes 1,615 units in 2–4-unit structures and 3,728 units in 5–49-unit structures; 10 LIHTC projects totaling 1,004 units; FY2027 2BR SAFMR is $1,540 versus ACS median gross rent of $1,188. 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 55405 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 55405 — 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 55405?

ZIP 55405 (Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area) has 16,915 residents, 8,190 households, a renter share of 64.0%, median household income of $70,425, and ACS 2023 median gross rent of $1,188. Vacancy is 6.1%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 55405?

ACS counts 722 units in 2-unit buildings, 893 in 3–4 unit buildings, 859 in 5–9, 1,517 in 10–19, and 1,352 in 20–49. Combined 2–49 unit stock is 5,343 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 55405?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,540. See the full schedule and 90–110% payment-standard band on the ZIP 55405 — Minneapolis, MN HUD Section 8 Payment Standards / SAFMR.

Does this Minnesota ZIP profile include Georgia listings?

No. ZIP 55405 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.