Location: Le Sueur County, MN | Metro: Le Sueur County, MN HUD Metro FMR Area
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 | $830 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $238,169 | 0.48% | F |
| 3BR | $1,580 | $291,392 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 56057, located in Le Center, MN, has a population of 3,919 residents, with 23.1% being renters. This indicates that while there is a notable rental presence, it is not a renter-heavy area. The median household income stands at $91,250, which provides a context for evaluating the local rental market.
The typical market rent in this area is $899 per month. Given the median household income, this equates to approximately 11.7% of the average monthly income. This percentage suggests that rent is relatively affordable for most households in Le Center, making it less likely that tenants will heavily rely on housing vouchers.
Comparatively, the Fair Market Rent (FMR) for the area is set at $1,110 per month for FY 2024. This figure is higher than the market rent, indicating that the actual rents charged are below the government's benchmark for fair market value. This could mean that landlords have some flexibility to adjust their rents upwards without pricing out a significant portion of the potential tenant pool.
In terms of voucher availability, given that the median income is above the national average and the rent-to-income ratio is modest, it is reasonable to infer that voucher demand might be lower than in areas with higher poverty rates or where rent consumes a larger portion of income. However, the presence of any low-income individuals who qualify for assistance would still contribute to the overall demand for Section 8 vouchers.
A landlord in Le Center should expect tenants who are financially stable enough to afford rent without assistance or who only require partial assistance. These tenants are likely to be employed and have a steady source of income, aligning well with the overall economic profile of the area. While the potential for full voucher utilization exists, it is more probable that landlords will encounter tenants who can pay the difference between the voucher amount and the actual rent, thus reducing financial risk.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.