Location: Todd County, MN | Metro: St. Cloud, MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The ZIP code 56336 stands out due to its unique demographic and economic characteristics. With a population of 1,566 residents, it has a relatively low rental rate at 10.9%, indicating that most of the residents own their homes. The median income in this area is $82,679, which is above the national average, suggesting a generally affluent community. The median home value is $353,945, reflecting the high cost of homeownership in the region.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 56336 is set at $910 for fiscal year 2024. This figure is notably higher than the actual market rent, which is estimated at $650 according to the latest Census American Community Survey (ACS) data. This discrepancy means that landlords accepting Section 8 vouchers could potentially receive a higher rent payment than the typical market rate, making it a favorable option for those who can accommodate the program's requirements.
The data signature for ZIP 56336 reads as stable. The low rental rate and high median income suggest a community where homeownership is preferred and financially feasible for most residents. However, the higher FMR compared to the market rent indicates that there is still a segment of the population that benefits from affordable housing options, including Section 8 vouchers. For landlords and small-portfolio investors, this stability offers a predictable environment for investment, with the added benefit of potentially higher rental income through the Section 8 program.
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.