Location: Cass County, MN | Metro: Aitkin County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for the 55785 ZIP code in the Cass County, MN metro area is set at $1,000 for FY 2026. This figure represents the maximum amount that landlords can charge voucher tenants under the Section 8 program. However, the current market rent for the area is less clear, with various sources indicating it as N/A, suggesting limited recent data.
Based on the HUD FMR, voucher tenants will likely cashflow at this rate, given the typical market rent appears lower. The median home value in ZIP 55785 is $188,500, which allows us to derive a rough estimate of the rent-to-price ratio. Assuming a typical rental property in this area would command a monthly rent around $761, based on recent HUD data, the rent-to-price ratio would be approximately 0.4%, indicating that rental income alone may not cover the mortgage and other expenses for most units at the median home value.
The lack of specific day median Days on Market (DOM) and percentage of price cuts does not provide a complete picture of the local rental versus buying dynamics. However, it's worth noting that the median home value suggests a relatively stable housing market, with homeownership being the predominant form of housing, at 97.3%. The median household income in this area is $55,781, which further supports the idea that rental properties are necessary for affordability.
The strongest investor angle in ZIP 55785 is likely to be cashflow, due to the higher HUD FMR compared to typical market rents. This means landlords who accept Section 8 vouchers can expect to earn above-average rents for the area, making this a favorable investment opportunity for those willing to work with the program.
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.