Location: Itasca County, MN | Metro: Itasca County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The ZIP code 55786, located within the Itasca County, MN metro area, presents an interesting case study for real estate analysis, particularly for landlords and small-portfolio investors interested in Section 8 housing. The Fair Market Rent (FMR) for this ZIP code is set at $970 for fiscal year 2026, which is a critical figure for understanding the rental dynamics.
In contrast to the FMR, the market rent and home values for ZIP 55786 are not available, indicating that there might be limited data on private market conditions. However, the 8.2% renter share provides insight into the local housing landscape. This percentage suggests that a significant portion of residents are renters, which could imply a demand for affordable housing options.
To determine if ZIP 55786 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Itasca County, MN metro, we must consider the available data points. The FMR of $970 is a government-set benchmark that represents the maximum rent allowed for Section 8 vouchers. Since market rent and home values are not provided, we cannot directly compare them against the FMR. However, the absence of market rent data could indicate that the private rental market is either less active or less documented compared to other areas within the county.
The 8.2% renter share, while not exceptionally high, does suggest that a notable number of residents rely on rental properties. In the context of limited market rent data, this could point towards ZIP 55786 being more aligned with a value pocket scenario. Typically, value pockets are characterized by lower market rents relative to the metro average and higher reliance on rental assistance programs such as Section 8.
Given the specific figures, it's reasonable to infer that ZIP 55786 offers opportunities for investors looking to cater to the needs of lower-income renters who benefit from Section 8 vouchers. The lack of high market rent data combined with a decent renter share indicates a potential sweet spot for Section 8 investments, where the demand for affordable housing meets the availability of rental assistance.
However, to make a definitive assessment, further data on the broader Itasca County ZIP codes would be necessary to compare the overall trends and understand how ZIP 55786 stands out or fits into the larger picture. Despite the limitations in the data provided, the combination of a defined FMR and a discernible renter share makes ZIP 55786 a viable option for those focused on Section 8 housing.
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.