Location: St. Cloud, MN | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $2,040 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $250,640 | 0.61% | D |
| 3BR | $2,040 | $295,540 | 0.69% | D |
| 4BR | $2,280 | $322,177 | 0.71% | D |
| 5BR | $2,645 | $383,488 | 0.69% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 56379, Sauk Rapids, MN, in fiscal year 2024 is set at $1270. This figure represents the payment standard for Section 8 housing vouchers, which means that if you participate in the program, the Housing Authority will pay up to $1270 per month for a voucher holder's rent. However, it does not necessarily reflect the actual rent you can charge your tenants.
In comparison, the average rent for the area, according to the Census American Community Survey, is $993. This indicates that the FMR is higher than the typical market rate, offering a potentially better financial outcome for landlords participating in the Section 8 program.
The renter share in Sauk Rapids is 34.3%, meaning nearly one-third of the population rents their homes. This suggests a reasonable demand for rental properties, including those that accept Section 8 vouchers. With a significant portion of residents looking for housing, there should be a steady pool of potential tenants.
If you're considering purchasing a property to rent out under the Section 8 program, the median home value in the area is around $294,030. This gives you an idea of the acquisition cost for a typical home in Sauk Rapids, MN. Before making a final decision, ensure that the property meets all the necessary Housing Quality Standards (HQS) required by the program. These standards cover essential maintenance and safety requirements to qualify for Section 8.
To summarize, the FMR of $1270 provides a higher payment benchmark compared to the local average of $993. The 34.3% renter share indicates strong demand for rentals, and the median home value of $294,030 helps gauge the initial investment needed. Your next step is to verify that the property complies with HQS to avoid any issues once you apply for the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.