Location: Nobles County, MN | Metro: Jackson County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 56167 stands out due to its unique data profile, which includes a total of 555 residents, 20.7% of whom rent their homes. The median income in this area is $73,203, and the median home value is significantly higher at $167,670. This indicates a community that is relatively affluent and where homeownership is more prevalent than renting.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070. However, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is much lower at $629 per month. This gap between the FMR and the market rent suggests that landlords accepting Section 8 vouchers in ZIP 56167 can expect to receive rental payments that exceed the local market rate, making it a financially viable option for those willing to participate in the program.
The data signature for ZIP 56167 reads as stable, with a high median home value and a median income that is above the national average. The low percentage of renters also points towards a community where homeownership is a priority, and the discrepancy between FMR and market rent could potentially attract more renters into the area, especially those relying on Section 8 vouchers. Landlords should consider the potential benefits of participating in the Section 8 program, as they can secure tenants who pay a rent higher than the local market rate while contributing to the stability of the housing market in this affluent ZIP code.
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.