Location: Big Stone County, MN | Metro: Big Stone County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 56210 is situated in a predominantly homeowner-focused neighborhood. With a population of just 16 residents, it's evident that this area is sparsely populated and likely consists of large properties or estates. The absence of rental units in this ZIP code indicates a community where homeownership is the norm, which is further supported by the high median income of $83,750. This suggests that the residents are financially stable and have the means to purchase property rather than rent.
Despite the lack of rental units, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. However, the specific market rent for ZIP 56210 is not available, which aligns with the limited number of rental properties in the area. Given the high median income and low number of renters, it's reasonable to assume that any rental properties would command a premium price above the FMR.
For a Section 8 investor, ZIP 56210 presents unique challenges. The absence of existing rental units means there is little demand for subsidized housing, making it unsuitable for a hands-off voucher operator who relies on a steady stream of tenants. Instead, this ZIP code might appeal to a hands-on value-add buyer looking to convert a large property into multiple rental units or develop new rental properties. Such an approach would require significant investment and active management to create a viable rental portfolio in an area not currently geared towards renting.
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.