Location: Freeborn County, MN | Metro: Freeborn County, MN
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 | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $185,866 | 0.59% | F |
| 3BR | $1,430 | $252,654 | 0.57% | F |
| 4BR | $1,640 | $295,302 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 56036, located in Glenville, Minnesota, presents a dynamic housing market influenced by several key factors. The Fair Market Rent (FMR) for the area stands at $1,030 for fiscal year 2026, while the actual market rent reported by the Census ACS is lower at $910. This suggests that the rental market is currently below the federally determined fair market rate, indicating a potential for upward pressure on rents as the market adjusts to align with the FMR.
The median home value in the area is $230,546, which provides insight into the overall cost of homeownership. However, the lack of specific data on price-cut shares and days on market (DOM) makes it difficult to definitively state whether supply outpaces demand or vice versa. Yet, the gap between the FMR and market rent implies that there might be an imbalance favoring tenants, possibly due to a higher supply of rental units relative to demand.
A noteworthy statistic is the 16.3% renter share of the population. This relatively low percentage indicates that the majority of residents prefer homeownership over renting. In the context of long-term housing pressures, this could mean that the area faces less immediate demand for rental properties compared to regions with higher renter shares. However, it also suggests that Glenville's rental market is resilient and likely to remain stable, as it caters primarily to those who cannot afford homeownership or choose to rent temporarily before purchasing a home.
The interplay between these figures—FMR, market rent, median home value, and renter share—illustrates a market in flux. While the current market rent is below the FMR, the low renter share points to a strong preference for homeownership among residents. This dynamic can create a steady demand for rental properties, particularly for those priced below the median home value, serving as a stepping stone towards homeownership or as a permanent option for lower-income households.
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.