Location: Rock County, MN | Metro: Rock County, MN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 56138 hosts a population of 927 individuals, with 21.2% being renters. The median household income in this area stands at $78,631. This indicates that the ZIP is primarily a homeowner-dominated region rather than a renter-heavy area, suggesting that the demand for Section 8 vouchers might be relatively lower compared to areas with higher percentages of renters.
The market rent in ZIP 56138 is $962 per month, which represents approximately 12.25% of the median household income when calculated annually. To put this into perspective, if we consider the annual median income of $78,631, the monthly rent of $962 would consume about 1/8th of the average monthly income. This makes it feasible for many households to afford market rents without assistance.
Comparatively, the Fair Market Rent (FMR) for the metro area, set at $1,090 for fiscal year 2026, is higher than the current market rent. This suggests that landlords in ZIP 56138 could potentially increase their rental rates closer to the FMR without significantly deterring prospective tenants who are already accustomed to paying less.
A landlord in ZIP 56138 can expect a tenant pool that predominantly consists of individuals who either have stable employment or access to financial resources beyond just rental assistance. While there will be some Section 8 tenants, the majority of the renting population is likely to be able to pay market rates without relying on government subsidies. Landlords should prepare to attract a mix of tenants, but they should focus on those who can afford the market rent, given the relatively low percentage of renters and the strong median income figure.
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.