Location: Traverse County, MN | Metro: Big Stone County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
6.7% of residents in ZIP code 56236 are renters, indicating a modest demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $970, which provides a benchmark for rental pricing. However, the absence of specific data on market rent suggests that local conditions may not fully align with these guidelines, leaving room for strategic adjustments by landlords.
The median home value in ZIP 56236 stands at $210,310, reflecting the overall property values in the region. This figure is crucial for understanding the economic landscape and potential investment opportunities. With a median income of $79,750, it's important to note that the financial capacity of residents is a key factor in determining rental affordability and demand.
The lack of detailed data on days on market (DOM) and the percentage of price-cut share indicates that there might be limited turnover in the housing market, suggesting stability but also potentially less frequent opportunities for new investments. Landlords and small-portfolio investors should consider these factors when setting rental prices and evaluating the potential for property appreciation.
In summary, ZIP code 56236 offers a stable environment for real estate investment, with a defined fair market rent and median home values that provide a solid basis for decision-making. The modest renter share and median income suggest careful consideration of rental pricing to ensure both affordability and profitability. Given these metrics, the Section 8 program could serve as a viable option for maintaining occupancy rates and ensuring steady cash flow, especially for properties priced around the FMR. Verdict: Section 8 is advisable for securing long-term tenants at competitive rates.
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.