Location: Nobles County, MN | Metro: Murray County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 56141, located in Nobles County, MN metro, reveals several key points that are crucial for understanding the financial viability of rental properties in this area. The HUD Fair Market Rent (FMR) for the metro scope in fiscal year 2026 is set at $970. In comparison, the Census American Community Survey (ACS) reports a market rent of $764, indicating that voucher tenants will cashflow positively at the HUD FMR.
To further analyze the cashflow potential, it's important to note that the median home value in this ZIP code is not available, which makes deriving an exact rent-to-price ratio challenging. However, given the gap between the HUD FMR and the market rent, it can be inferred that the rent-to-price ratio is favorable for rental investments over homeownership.
The days on market (DOM) and the percentage of homes that experienced price cuts are also not available. This lack of data suggests that the buy-versus-rent dynamic leans heavily towards renting, due to the absence of significant price reductions and potentially long DOM periods that might indicate a slower housing market.
In conclusion, the strongest investor angle in ZIP 56141 is cashflow, as the HUD FMR exceeds the market rent by a considerable margin, ensuring positive cashflow even without premium units. This makes it an attractive area for landlords and small-portfolio investors looking to capitalize on the Section 8 program's financial benefits.
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.