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Housing market/Minnesota/ZIP 55391

ACS 2023 · FY2027 SAFMR

ZIP 55391 Wayzata, 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
15,469
Households
6,638
Median HH income
$170,115
Renter share
18.7%
Median gross rent
$1,498
Vacancy
10.8%
Pop. change
-5.2%
2BR SAFMR
$1,960
SAFMR / rent
1.308×
2–49 unit stock
706
LIHTC proj / units
—
HUD assisted MF
1 / 77

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 55391 · MN — sent to you.

ZIP 55391 · MN

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ACS rent vs 2BR SAFMR

ZIP 55391 — Wayzata, MN HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,498
2BR SAFMR$1,960
90% floor$1,764
110% ceiling$2,156

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

Housing stock

ACS 2023 units-in-structure · ZCTA 55391

  • 1-unit detached5,28371.0%
  • 1-unit attached4726.3%
  • 2–4 units680.9%
  • 5–49 units6388.6%
  • 50+ units97913.1%
  • Mobile50.1%
TypeUnitsShare
1-unit detached5,28371.0%
1-unit attached4726.3%
2 units (duplex)680.9%
3–4 units00.0%
5–9 units1642.2%
10–19 units1231.7%
20–49 units3514.7%
50+ units97913.1%
Mobile50.1%

2–4 unit share 0.9% · 5–49 unit share 8.6% · combined 2–49 9.5%.

Units by bedrooms

Studio
71
1BR
711
2BR
1,561
3BR
1,832
4BR
1,935
5+
1,335

Rent burden

Rent ≥30% of income47.8%
Rent ≥50% of income32.2%
  • ACS median gross rent $1,498 (all bedrooms, occupied rentals).
  • Median contract rent $1,472.
  • Renters paying ≥30% of income 47.8%; ≥50% 32.2%.
  • FY2027 2BR SAFMR $1,960 (1.308× ACS median gross rent).

Population

15,469 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -5.2%.

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

Assisted inventory

  • LIHTC: not published for this ZIP.
  • HUD project-based assisted MF: 1 properties, 77 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 55391 18.7% of occupied households are renters; vacancy is 10.8%; ACS median gross rent is $1,498; population changed -5.2% between the 2018 and 2023 ACS vintages; the housing stock includes 68 units in 2–4-unit structures and 638 units in 5–49-unit structures; FY2027 2BR SAFMR is $1,960 versus ACS median gross rent of $1,498. 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 55391 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 55391 — Wayzata, 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 55391?

ZIP 55391 (Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area) has 15,469 residents, 6,638 households, a renter share of 18.7%, median household income of $170,115, and ACS 2023 median gross rent of $1,498. Vacancy is 10.8%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 55391?

ACS counts 68 units in 2-unit buildings, 0 in 3–4 unit buildings, 164 in 5–9, 123 in 10–19, and 351 in 20–49. Combined 2–49 unit stock is 706 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 55391?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,960. See the full schedule and 90–110% payment-standard band on the ZIP 55391 — Wayzata, MN HUD Section 8 Payment Standards / SAFMR.

Does this Minnesota ZIP profile include Georgia listings?

No. ZIP 55391 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.