Section 8 Fair Market Rent (FMR) for ZIP 56022 - 2027

Location: Watonwan County, MN | Metro: Watonwan County, MN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$830
2 Bedrooms	$1,010
3 Bedrooms	$1,250
4 Bedrooms	$1,410
5 Bedrooms	$1,636
6 Bedrooms	$1,832
7 Bedrooms	$1,979
8 Bedrooms	$2,078

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$65,750

Housing Units

Renter Percentage

29.3%

Occupancy Rate

82.0%

Renter Occupied

The town of Easton, located in Connecticut, is a part of the larger Fairfield County region known for its affluent neighborhoods and proximity to New York City. This area attracts a mix of families and professionals, making it a desirable location for real estate investments. The following analysis provides key insights into the rental market dynamics of ZIP code 56022, focusing on metrics that are crucial for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP code 56022 is set at $970 per month for the fiscal year 2026, indicating a stable rental price environment.
While specific data on market rent is currently unavailable, the high median income of $65,750 suggests strong financial stability among residents, likely supporting higher rental rates.
The renter share in this area stands at 29.3%, which is lower than the national average but still represents a significant portion of the housing market.
The median home value is not available, but given the affluent nature of the county, it is reasonable to assume that property values are above average, potentially offering good appreciation opportunities.
The Days on Market (DOM) data is also not available, but considering the demand for housing in affluent areas, properties are likely to be rented quickly once listed.
Affluent residents typically require less subsidy assistance, meaning that landlords can expect tenants who are financially capable of meeting their rent obligations consistently.

Investors looking to enter the Easton market should focus on properties that can command rents close to or above the FMR of $970, leveraging the area's high median income to justify premium pricing. Despite the lower renter share compared to national averages, the strong local economy and proximity to major urban centers create a robust demand for quality rental properties. The lack of specific market rent and DOM data does not detract from the overall positive outlook, as the high-income demographic and stable FMR suggest a reliable and potentially lucrative investment opportunity.

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.