Location: Goodhue County, MN | Metro: Goodhue County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
ZIP code 55983 within Goodhue County, MN, presents a unique snapshot when compared against typical ZIP codes in the county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. However, the actual market rent in ZIP 55983 is notably lower at $692. This discrepancy suggests that ZIP 55983 offers more affordable rental options relative to the county average.
The median home value in ZIP 55983 stands at $300,496, which is consistent with the broader county's housing market. This indicates that homeownership costs are in line with what other areas in Goodhue County might expect, making it neither particularly expensive nor cheap compared to its peers.
A key differentiator is the renter share, which is 21.2%. This figure is higher than the typical percentage seen in many ZIP codes across Goodhue County. A higher proportion of renters can be indicative of a location that is attractive to those seeking affordable housing options, potentially due to its proximity to amenities or employment centers that draw tenants despite lower overall rents.
The combination of below-average market rent and a higher-than-average renter share points towards ZIP 55983 being a potential value pocket within its metro. Such areas are often favored by landlords and small-portfolio investors looking to maximize their returns through rental income while minimizing investment risk associated with property values.
However, it is important to note that the median home value is still quite substantial at $300,496. This means that while rental properties might offer good opportunities, purchasing homes for resale or long-term appreciation may not present the same level of bargain as rental properties do. For investors focused on rental yields, ZIP 55983 represents an attractive opportunity given its rental dynamics.
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.