Location: Itasca County, MN | Metro: Duluth, MN-WI MSA
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 | $770 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $185,659 | 0.6% | F |
| 3BR | $1,530 | $231,134 | 0.66% | D |
U.S. Census Bureau data (2024)
ZIP code 55769, located in Nashwauk, MN, presents a unique position within the Itasca County, MN metro area. The Fair Market Rent (FMR) for the zip code is set at $1120 for fiscal year 2024, which is significantly higher than the market rent of $777. This indicates that the government subsidy for housing in this area is generous compared to what the market would naturally charge.
The median home value of $186,005 in ZIP 55769 is lower than the typical home values found in other ZIP codes within Itasca County. This suggests that Nashwauk offers relatively affordable housing options when compared to surrounding areas. Additionally, the 12.3% renter share is notable but not unusually high, implying that a considerable portion of residents prefer renting over owning their homes.
When analyzing these figures, it becomes apparent that ZIP 55769 could be considered a value pocket within the Itasca County, MN metro. The combination of a below-average home value and a higher-than-market FMR makes it an attractive location for Section 8 tenants. Landlords can benefit from the government subsidies without facing the higher costs associated with maintaining properties in more expensive neighborhoods.
The divergence between the high FMR and the lower market rent is a key indicator that Nashwauk might be particularly suitable for those participating in the Section 8 program. This scenario often signals a sweet spot for landlords who are looking to maximize their income while minimizing their investment in property maintenance.
In summary, ZIP 55769 stands out as a value pocket within the Itasca County, MN metro. Its $1120 FMR, $777 market rent, $186,005 home value, and 12.3% renter share suggest a favorable environment for landlords interested in Section 8 housing, offering a balance between affordability and government support.
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.