Location: Todd County, MN | Metro: Morrison County, MN
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 | $870 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,660 | $309,940 | 0.54% | F |
| 4BR | $1,830 | $408,432 | 0.45% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 56382 within the Todd County, MN metro reveals several key points when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for 56382 is set at $1,000 for fiscal year 2026, which is notably higher than the market rent figure of $780. This discrepancy suggests that while the official FMR is higher, actual rental prices in the area may be more affordable, potentially creating a value pocket for investors.
The median home value in ZIP 56382 stands at $322,035, which is lower than the average home values typically seen in the Todd County metro. This could indicate that the area offers a cost-effective entry point for real estate investment, especially for those looking to capitalize on rental income rather than flipping properties for profit.
The renter share in 56382 is 15.4%, which is slightly above the average for the county. A higher renter share combined with below-average home values can often signal an attractive market for Section 8 properties, as it indicates a concentration of renters who might qualify for housing assistance programs.
In summary, ZIP code 56382 appears to be a value pocket within the Todd County, MN metro. Its below-average home values coupled with a slightly above-average renter share make it a favorable location for landlords and small-portfolio investors interested in Section 8 properties. The FMR being higher than the actual market rent also supports this conclusion, suggesting potential for subsidized rents without significantly exceeding market rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.