Location: St. Cloud, MN | Metro: St. Cloud, MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
ZIP code 56333, located within the St. Cloud, MN MSA, has a Fair Market Rent (FMR) of $1060 for fiscal year 2024. This figure represents the rental cost threshold for eligibility under the Section 8 housing program. Comparatively, typical ZIP codes within the St. Cloud MSA will have varying FMRs, but without specific data on other ZIP codes, we can infer that an FMR of $1060 places 56333 at a moderate level within the metro area.
The lack of available market rent and home value data for ZIP 56333 makes it challenging to provide a comprehensive comparison with other areas within the St. Cloud MSA. However, given the FMR alone, we can deduce that the rental market in 56333 is likely competitive, especially considering the reliance on government-subsidized housing programs.
The unknown percentage of renter share adds another layer of complexity. Typically, a higher renter share combined with lower-than-average home values could indicate a more affordable living environment, which might appeal to renters seeking government assistance. In the absence of concrete data on home values and renter share, it's reasonable to suggest that 56333 could be considered a value pocket within the St. Cloud MSA, particularly if the local rental market is driven by subsidized housing demand.
To determine whether 56333 is indeed a value pocket, a mid-tier neighborhood, or a premium sub-market, additional metrics such as median home values and average market rents would be necessary. These factors, when compared to the broader St. Cloud MSA, would provide clearer insights into the relative standing of ZIP 56333 within its metro area.
Data Sources: FMR data from HUD (2027).
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.