Location: St. Cloud, MN | Metro: St. Cloud, MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The analysis of ZIP 56371 within the St. Cloud, MN MSA reveals several key points that should be considered by landlords and small-portfolio investors.
The rent math does not work favorably due to the lack of market rent data. The Fair Market Rent (FMR) for ZIP 56371 in fiscal year 2024 is set at $1020. Without a comparison to the local market rent, it's difficult to assess whether properties can be rented out at a rate that covers costs and provides a profit. This uncertainty can pose a risk to potential investments.
Regarding property acquisition, the median home value and other key metrics such as days on market (DOM) and percentage of homes with price cuts are not available. These missing figures make it challenging to determine if purchasing homes in ZIP 56371 is financially viable. Typically, a lower median home value would indicate affordability, but without specific numbers, this cannot be confirmed.
Tenant demand is present in ZIP 56371. With a total population of 95 and a renter share of 20.5%, there are approximately 20 potential renters. However, the small number of residents limits the pool of prospective tenants, which could affect the ability to maintain occupancy rates.
Verdict: Investment in ZIP 56371 is not advisable given the lack of critical financial data and the limited population size, which constrains the number of potential renters. The absence of market rent figures and median home values introduces significant uncertainty into the investment decision-making process. Landlords and small-portfolio investors should seek areas with more comprehensive data and larger populations to ensure both tenant demand and favorable rent-to-cost ratios.
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.