Location: Murray County, MN | Metro: Murray County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 56114 reveals that voucher tenants can achieve positive cashflow at the Fair Market Rent (FMR) set by HUD for the Murray County, MN metro area. The HUD FMR for this region is $1,360 for fiscal year 2026, while the average market rent, based on Census ACS data, is $1,063. This indicates that voucher tenants will cover more than the market rate, providing a substantial buffer for landlords and small-portfolio investors.
The median home value in ZIP 56114 is not available, which makes it challenging to calculate an exact rent-to-price ratio. However, the significant gap between the HUD FMR and the market rent suggests a favorable environment for rental properties over homeownership, particularly for those relying on housing vouchers.
The dynamics of days on market (DOM) and the percentage of price cuts are also not available. Nevertheless, given the higher FMR compared to the market rent, there is less pressure on landlords to reduce rents to attract tenants, indicating a relatively stable rental market.
In summary, the strongest angle for investors in ZIP 56114 is cashflow. With voucher tenants paying above the market rate, landlords can expect consistent and reliable income without the need to compromise on unit quality or location.
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.