Location: Rock County, MN | Metro: Rock County, MN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 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)
The analysis of ZIP code 56146 reveals several key points that landlords and small-portfolio investors should consider.
The rent math does not work in favor of landlords. The Fair Market Rent (FMR) set at $970 for the HUD Metro FMR Area for fiscal year 2026 is significantly higher than the actual market rent reported by the Census ACS, which stands at $713. This discrepancy suggests that landlords aiming to charge FMR levels might face challenges in renting out their properties at those rates.
Regarding acquisition affordability, the data presents a mixed picture. The median home value is listed as N/A, indicating a lack of comprehensive data on property values in this area. Similarly, the days on market (DOM) and the percentage of homes that have undergone price reductions are also marked as N/A, making it difficult to assess how competitive the real estate market is for potential acquisitions. Without these crucial metrics, investors must rely on other local market intelligence to gauge the cost-effectiveness of purchasing properties in this ZIP code.
Tenant demand appears to be modest but present. With a total population of 55 and a renter share of 19.2%, the number of potential tenants is limited. However, this does not necessarily mean a lack of demand; it could indicate a stable rental market where landlords can expect a consistent pool of renters, albeit a small one.
In summary, while there is a viable tenant base in ZIP 56146, the rent math does not align with the market realities, and the lack of detailed acquisition metrics complicates investment decisions. Landlords should carefully evaluate their pricing strategies and seek additional local data to make informed decisions about property acquisitions in this area.
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.