Location: Waseca County, MN | Metro: Waseca County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
8.1% of residents in ZIP code 56091 are renters, indicating a modest demand for rental properties in the area. However, the $1,030 Fair Market Rent (FMR) for the metro area as of fiscal year 2026 suggests that there is a clear benchmark for rental pricing. Despite the lack of specific data on market rent and days on market (DOM), it's evident that the rental sector is influenced by broader economic conditions, such as the $56,250 median income, which provides insight into the financial capacity of potential tenants. The median home value stands at $204,991, reflecting the overall property values in the region. While the percentage of price-cut share remains unspecified, the combination of these figures paints a picture of a stable but not highly dynamic housing market.
The $1,030 FMR can serve as a guideline for landlords and small-portfolio investors when setting rents, ensuring that their properties remain competitive and attractive to tenants. Given that the median income is $56,250, it's crucial for investors to consider the affordability of rents relative to this figure. The modest renter share of 8.1% implies that while there is a market for rentals, it may be limited compared to other areas with higher renter populations. This stability can be advantageous for long-term investment strategies, particularly for those who are looking to avoid volatile markets.
Investors should also take note of the median home value, which at $204,991, indicates a moderate property valuation. This could suggest opportunities for both purchasing and renting out properties at reasonable rates, aligning well with the FMR and potentially offering a steady stream of rental income. Although the data does not provide specifics on market rent or DOM, the existing figures offer a solid foundation for making informed decisions about rental investments in ZIP 56091.
In conclusion, ZIP 56091 presents a balanced environment for Section 8 investments, with the $1,030 FMR serving as a reliable guide for rental pricing and the $204,991 median home value suggesting moderate property costs. The relatively low renter share of 8.1% and median income of $56,250 highlight the importance of aligning rental prices with tenant affordability. For landlords and small-portfolio investors, ZIP 56091 offers a stable market with clear guidelines for successful Section 8 participation.
Section 8 Verdict: Suitable for conservative investors seeking stable returns.
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.