Location: Lyon County, MN | Metro: Lincoln County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 56113, located in Lyon County, MN, can serve as a diversifier in a Section 8 portfolio strategy. With a renter share of 11.7%, this area offers a moderate opportunity for landlords interested in the rental market. Additionally, the median income of $74,375 suggests that residents have a stable financial base, making them suitable candidates for Section 8 tenancy.
While the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is $990, the lack of specific market and median home value data for ZIP 56113 means that the exact spread cannot be calculated. However, the existing data points towards a balanced market where both homeowners and renters coexist.
Section 8 properties in ZIP 56113 can provide steady cash flow due to the program's subsidies, ensuring that tenants can afford their rent payments. Furthermore, the relatively low renter share indicates that there is room for growth in the rental market, which could benefit landlords who are willing to invest in the area.
In summary, ZIP 56113 is best suited as a diversifier in a Section 8 portfolio. It provides a stable income source for landlords while offering a mix of rental and ownership opportunities that can balance risk and reward in real estate investments.
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.