Location: Kandiyohi County, MN | Metro: Kandiyohi County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 56279, as set by the U.S. Department of Housing and Urban Development for fiscal year 2026, is $1,170. This figure represents the maximum amount that landlords can charge for rent under the Section 8 program, which is a housing assistance program for low-income families. It's important to note that the FMR is not the actual rent you will receive; it's the benchmark used to determine the rent subsidy.
In comparison, the average market rent in ZIP 56279, based on recent Census American Community Survey data, is $1,050. This suggests that the FMR is slightly higher than the current market rate, which could be advantageous if you're looking to enter the Section 8 market.
The renter share in ZIP 56279 stands at 20.3%. This indicates that roughly one-fifth of the households in this area are renters, signaling a reasonable demand for rental properties. While this isn't a high percentage, it still represents a significant portion of the population that might benefit from Section 8 assistance.
If you're considering purchasing a property in ZIP 56279 to use as a Section 8 rental, the median home value of $294,557 provides a baseline for the acquisition cost. This figure should be considered alongside the FMR and other financial factors when evaluating the potential profitability of a Section 8 investment.
Before making your decision, verify that the property meets all the necessary requirements for the Section 8 program. This includes ensuring that the unit is in good repair and complies with health and safety standards, as determined by the housing authority. These standards are crucial because they directly impact your ability to participate in the program and receive the guaranteed rent payments.
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.