Location: Aitkin County, MN | Metro: Aitkin County, MN
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $820 | $248,786 | 0.33% | F |
| 2BR | $1,070 | $331,712 | 0.32% | F |
| 3BR | $1,480 | $385,616 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 55760, located in McGregor, MN, is characterized by a modest population size of 2,894 residents. Within this community, 17.9% of individuals are renters, indicating a relatively small but present tenant pool. The median household income stands at $59,474, which provides a baseline for understanding the economic context of potential tenants.
Average market rent in this area is $942 per month, representing approximately 19.2% of the median household income. This calculation is derived from dividing the monthly rent by the annual income and multiplying by 100 (942 / (59474 / 12) * 100 = 19.2%). The Federal Market Rent (FMR) for the metro area is set at $970 for fiscal year 2026, suggesting that the market rent is slightly below the federally determined standard, which could indicate a slight affordability edge for tenants with vouchers.
The presence of Section 8 vouchers in this ZIP code is likely to be moderate due to the relatively low percentage of renters. However, given the close alignment between the market rent and the FMR, there is still a significant opportunity for landlords who accept vouchers. The typical rent eats up nearly one-fifth of the average household's income, making it challenging for some residents to afford housing without assistance.
Landlords in ZIP 55760 should anticipate a tenant profile that includes individuals and families who rely on rental subsidies. These tenants will likely have incomes that fall below the median, necessitating financial aid to cover the cost of housing. The scarcity of deep voucher demand means that landlords may need to balance between accepting subsidized tenants and setting rents that attract non-subsidized tenants who can afford the $942 market rate.
In summary, while ZIP 55760 is not heavily dominated by renters, it does present opportunities for landlords willing to work with Section 8 tenants. The alignment of market rents with the FMR suggests a manageable environment for those who qualify for vouchers, although landlords must remain aware of the economic realities faced by many in the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.