FIPS 27053 · population 1,269,496 · part of Minneapolis, MN
The latest county-level Zillow ZORI is $1,766 per month in 2026-06. It is a typical asking-rent index across rental types—not an arithmetic average, signed lease or quote for one property.
| Bedrooms | HUD monthly FMR | Geography | Measurement boundary |
|---|---|---|---|
| Studio | $1,242 | Hennepin County, MN | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 1 bedroom | $1,405 | Hennepin County, MN | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 2 bedrooms | $1,709 | Hennepin County, MN | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 3 bedrooms | $2,262 | Hennepin County, MN | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 4 bedrooms | $2,531 | Hennepin County, MN | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
Zillow asking rent, ACS gross rent and HUD FMR describe different housing universes. They remain separate and no metro, city or neighboring-county value replaces missing county evidence.Zillow pulled 2026-07-26 · HUD pulled 2026-07-26
Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.
Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.
Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.
Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2021-2025; latest 2025 vs 2024 · pulled 2026-08-02. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.
BEA per-capita personal income divides all personal income by the county population. It is broader than wages, but it is not household income or a measure of what renters can afford.
HUD CHAS separates renter households by income relative to local HAMFI. Moderate burden means housing costs above 30% through 50% of income; severe burden means more than 50%.
These Apartment List observations match the exact county Census code 27053. They are kept separate from Zillow asking rent, Census occupied-home rent and wider metro measures.
Monthly overall-rent index; missing observations are not filled from another geography.
Hennepin County presents a carrying-cost-versus-market-traction tension: measured asking rent supports a positive headline yield, but visible MLS supply and migration warrant property-level diligence. It merits investigation for investors who can validate expenses and tenant demand; caution is warranted where underwriting relies on appreciation. Zillow’s county observation for 2026-06 shows median home-value growth of 1.98%, while FHFA’s separately labeled 2025 annual repeat-transaction HPI rose 3.01%. These have different vintages and methods, and FHFA is an index rather than a home value, so they should not be combined.
The reported $395,883 median home value and $1,766 monthly median asking rent produce the supplied 5.35% gross yield before costs. This is measured market rent, not HUD FMR. HUD’s $1,709 two-bedroom FMR is a payment standard; its relationship to market rent is not a substitute for unit-level achievable rent. An effective property-tax rate of 1.14% and median annual tax of $4,480 reduce room beneath gross yield, while insurance, financing, maintenance, vacancy, and property-specific assessments are not published. That prevents a net-yield conclusion.
MLS listing-market evidence complicates the price signal. Active listings rose 14.98%, median marketing time was 37 days, and 15.55% of listings carried price reductions. These are asking-price, visible-supply, marketing-time, and concession measures—not closed sales or stand-alone proof of buyer demand. Investor purchase mortgages were 1,222 of 15,139 purchases, or 8.07%; participation is material enough to track but does not establish who wins in particular submarkets. The pending ratio indicates current listing flow, but cannot establish absorption without history.
Demand evidence is mixed. QCEW shows little change in annual covered workplace employment and higher covered-worker weekly pay; professional and business services was the largest disclosed private supersector, not the whole economy. Tax-return migration was negative 2,068, while outbound movers had $23,428 higher average AGI than inbound movers, a calculation that raises a household-composition question rather than forecasting rental demand. Inland flood is the dominant hazard, and modeled annual climate loss equals 0.10% of building value. Parcel flood exposure, coverage, rent comps, operating costs, lease turnover, and sale comps remain necessary to underwrite net cash flow, liquidity, and hazard pricing.
This view uses 12 direct Zillow ZIP markets matched to Census ZCTAs. Each ZIP is assigned by its largest HUD residential county share; this is not an exhaustive county inventory.
Within the selected direct-evidence set, the decision is less about a single county rent and more about the breadth of Zillow’s typical observed asking-rent index. In June 2026, ZORI runs from $1,320 in ZIP 55423 to $2,014 in ZIP 55401, a $694 spread around a $1,498.50 median. The county ZORI of $1,766 is above the selected-set median and is useful context, not a replacement for ZIP comparison. The practical question is whether a property’s current quote, bedroom count, utilities and fees, lease terms, and location fit the relevant segment; the county figure is not an offer price or a guarantee of what a renter will find.
Zillow ZORI is a typical observed asking-rent index rather than a bedroom-specific payment standard. Across the displayed ZIPs, it equals 77.2% to 117.8% of HUD’s administrative, bedroom-specific $1,709 two-bedroom FMR. That relation places some observations below and some above the standard, but it does not say that an available unit qualifies for or is priced by FMR. ACS five-year median gross rent is instead a survey estimate of occupied households’ gross rent, ranging from $1,082 to $2,023 in the set, versus the county’s $1,487. Differences from ZORI can reflect unlike measures, periods, unit mixes, and respondent or market coverage; do not average or substitute them.
ACS burden and vacancy estimates frame trade-offs but do not identify a best ZIP. Across shown areas, 34.8% to 56.6% of renter households spend at least 30% of income on gross rent, compared with 47.6% countywide; vacancy ranges from 3.7% to 12.0%, compared with 5.6% countywide. ZIP 55414 sits at the burden high end and has 11.2% vacancy; those figures should not be read as a fixed relationship. Treat vacancy as a housing-stock measure and burden as a household-income measure, not evidence of availability, unit fit, or lease concessions. Separately, its ZORI produces a $61,160 annual income benchmark at a 30% rent share, while its ACS median household income is $51,966. This is an arithmetic budget screen across distinct sources, not a household-level burden estimate.
Scope is as important as the spread. The displayed set contains 12 of 49 eligible direct-ZORI ZIP/ZCTA matches and covers 96,874 renter households, so it is a selected comparison set rather than a county inventory. In Hennepin County, the Census ZCTA used for a displayed ZIP may trace a different boundary than the USPS delivery area used when searching an address. Each shown ZIP is assigned here to Hennepin because it has the largest HUD residential-address share; that convention cannot establish that every address lies in the county. Before acting, verify the street address and county, live asking rent, bedroom count, utilities and fees, lease term, income and occupancy rules, availability date, and whether a subsidy program uses the applicable administrative rent standard.
49 ZIP profiles passed the county gate; the 12 with the most renter households are shown.
| ZIP / ZCTA | Zillow asking rent | ACS gross rent | HUD 2BR | Burden 30%+ | Vacancy | Income screen | HUD county share |
|---|---|---|---|---|---|---|---|
| 55408 | $1,519 | $1,364 | $1,709 | 41.1% | 5.9% | $61k | 100.0% |
| 55414 | $1,529 | $1,425 | $1,709 | 56.6% | 11.2% | $61k | 100.0% |
| 55404 | $1,438 | $1,082 | $1,709 | 51.7% | 12.0% | $58k | 100.0% |
| 55416 | $1,882 | $1,755 | $1,709 | 38.7% | 7.1% | $75k | 100.0% |
| 55403 | $1,451 | $1,241 | $1,709 | 48.9% | 11.1% | $58k | 100.0% |
| 55343 | $1,628 | $1,568 | $1,709 | 44.9% | 5.2% | $65k | 100.0% |
| 55423 | $1,320 | $1,393 | $1,709 | 43.4% | 3.7% | $53k | 100.0% |
| 55401 | $2,014 | $2,023 | $1,709 | 34.8% | 9.1% | $81k | 100.0% |
| 55407 | $1,482 | $1,291 | $1,709 | 53.1% | 8.0% | $59k | 100.0% |
| 55406 | $1,436 | $1,281 | $1,709 | 41.9% | 5.2% | $57k | 100.0% |
| 55428 | $1,515 | $1,336 | $1,709 | 54.3% | 4.4% | $61k | 100.0% |
| 55405 | $1,393 | $1,231 | $1,709 | 40.9% | 9.4% | $56k | 100.0% |
Open a five-digit report for asking rent, affordability, rent history and resale liquidity. Each row keeps its ZIP/ZCTA measurement scope.
| ZIP report | City label | Zillow rent | 1Y change | ACS burden 30%+ | Population |
|---|---|---|---|---|---|
| ZIP 55401 rental reportHennepin County | Minneapolis, MN | $2,014 | ▲ 5.4% | 34.8% | 11,816 |
| ZIP 55411 rental reportHennepin County | Minneapolis, MN | $1,758 | ▲ 6.0% | 62.2% | 27,741 |
| ZIP 55418 rental reportHennepin County | Minneapolis, MN | $1,709 | ▲ 3.0% | 39.6% | 31,505 |
| ZIP 55443 rental reportHennepin County | Brooklyn Park, MN | $1,536 | ▲ 4.8% | 59.9% | 33,660 |
| ZIP 55414 rental reportHennepin County | Minneapolis, MN | $1,529 | ▲ 1.5% | 56.6% | 35,007 |
| ZIP 55408 rental reportHennepin County | Minneapolis, MN | $1,519 | ▲ 3.5% | 41.1% | 31,507 |
| ZIP 55407 rental reportHennepin County | Minneapolis, MN | $1,482 | ▲ 3.4% | 53.1% | 37,667 |
| ZIP 55403 rental reportHennepin County | Minneapolis, MN | $1,451 | ▲ 2.9% | 48.9% | 17,601 |
| ZIP 55404 rental reportHennepin County | Minneapolis, MN | $1,438 | ▲ 2.1% | 51.7% | 28,920 |
| ZIP 55406 rental reportHennepin County | Minneapolis, MN | $1,436 | ▲ 1.8% | 41.9% | 36,581 |
| ZIP 55405 rental reportHennepin County | Minneapolis, MN | $1,393 | ▲ 3.2% | 40.9% | 17,198 |
Zillow ZORI is an asking-rent index. ACS burden and population describe the Census ZCTA; missing observations remain n/a.
Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.
Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.
0.101% of building value expected lost per year
$4,480 median annual bill
37,946 in · 40,014 out
$71,242 arriving · $94,670 leaving
1,222 of 15,139 mortgages
Listing price is an asking price, not a closed sale. Quality-flagged county rows are withheld instead of displayed.
A metro is an average of these. Which side of a county line a property sits on can change the tax bill, the hazard profile and the tenant pool.
| County | Population | Price | Rent | Yield | Hazard |
|---|---|---|---|---|---|
| Hennepin County | 1,269,496 | $396k | $1,766 | 5.3% | inland flooding |
| Ramsey County | 542,945 | $345k | $1,525 | 5.3% | inland flooding |
| Dakota County | 445,771 | $403k | $1,687 | 5.0% | inland flooding |
| Anoka County | 370,349 | $380k | $1,732 | 5.5% | inland flooding |
| Washington County | 276,238 | $451k | $2,060 | 5.5% | inland flooding |
| Scott County | 154,557 | $450k | $1,850 | 4.9% | inland flooding |
| Wright County | 148,269 | $399k | $1,806 | 5.4% | inland flooding |
| Carver County | 110,041 | $496k | $2,002 | 4.8% | inland flooding |
| Sherburne County | 100,560 | $396k | $1,607 | 4.9% | inland flooding |
Yes. The record identifies measured monthly median asking rent and supplies a gross yield, but it lacks the operating-cost inputs needed to determine net yield.
No. The record identifies FMR as a payment standard, while the separately reported asking rent is the market-rent measure.
The record provides annual covered jobs located at county workplaces and covered-worker wages; it does not provide resident employment, unemployment, or a demand forecast.