Housing market/Minnesota/ZIP 55021
ZIP 55021 Faribault, Steele County, Minnesota
Steele County, MN · Minnesota. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 55021 · MN — sent to you.
ZIP 55021 · MN
ACS rent vs 2BR SAFMR
ZIP 55021 — Faribault, MN HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 55021
- 1-unit detached8,75770.5%
- 1-unit attached3803.1%
- 2–4 units8036.5%
- 5–49 units1,33510.8%
- 50+ units5734.6%
- Mobile5694.6%
2–4 unit share 6.5% · 5–49 unit share 10.7% · combined 2–49 17.2%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,044 (all bedrooms, occupied rentals).
- Median contract rent $879.
- Renters paying ≥30% of income 51.6%; ≥50% 26.1%.
- FY2027 2BR SAFMR $1,240 (1.188× ACS median gross rent).
Population
30,860 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +2.8%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 8 projects, 260 units.
- HUD project-based assisted MF: 5 properties, 234 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 0 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 55021 28.6% of occupied households are renters; vacancy is 8.6%; ACS median gross rent is $1,044; population increased +2.8% between the 2018 and 2023 ACS vintages; the housing stock includes 803 units in 2–4-unit structures and 1,335 units in 5–49-unit structures; 8 LIHTC projects totaling 260 units; FY2027 2BR SAFMR is $1,240 versus ACS median gross rent of $1,044. 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 55021 is a Census / HUD profile for Steele County, MN. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 55021 — Faribault, MN HUD Section 8 Payment Standards / SAFMR·Minnesota ZIP directory
Nearby ZIPs in this FMR area
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 55021?
ZIP 55021 (Steele County, MN) has 30,860 residents, 11,352 households, a renter share of 28.6%, median household income of $70,296, and ACS 2023 median gross rent of $1,044. Vacancy is 8.6%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 55021?
ACS counts 298 units in 2-unit buildings, 505 in 3–4 unit buildings, 398 in 5–9, 453 in 10–19, and 484 in 20–49. Combined 2–49 unit stock is 2,138 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 55021?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,240. See the full schedule and 90–110% payment-standard band on the ZIP 55021 — Faribault, MN HUD Section 8 Payment Standards / SAFMR.
Does this Minnesota ZIP profile include Georgia listings?
No. ZIP 55021 is Census / HUD research for Steele County, MN. 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.