Location: Sibley County, MN | Metro: Mankato, MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
ZIP code 55335, located within Sibley County, MN, presents a unique profile when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for 55335 stands at $960 for fiscal year 2024, which is slightly above the market rent of $900. This indicates that rental properties in this area are generally priced higher than the average market rate, potentially reflecting a higher demand for rentals.
The median home value in ZIP 55335 is $229,836. This figure is indicative of an affordable housing market, suggesting that 55335 could be considered a value pocket within the broader Sibley County, MN metro. Value pockets are areas where property values are lower than the surrounding region, making them attractive for both buyers and renters looking for cost-effective options.
A notable feature of ZIP 55335 is its renter share, which is 16.8%. This percentage is significant as it suggests a considerable portion of residents are renters rather than homeowners. In conjunction with the relatively low home values, this high renter share could signal a favorable environment for landlords and small-portfolio investors interested in Section 8 properties. High renter shares with below-average home values often indicate areas where Section 8 subsidies can cover a larger portion of the rent, making them particularly appealing for those who participate in the program.
In summary, ZIP code 55335 appears to be a value pocket within Sibley County, MN. It offers a blend of slightly elevated FMR compared to market rents, along with a substantial renter population and below-average home values. These characteristics make it a promising location for real estate investment, especially for those focused on the Section 8 market segment.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.