Location: St. Cloud, MN | Metro: St. Cloud, MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
The ZIP code 56388, located in St. Cloud County, Minnesota, presents a unique scenario for landlords and small-portfolio investors due to the lack of publicly available data regarding its resident population, rental percentages, median income, and median home values. This scarcity of information can make it challenging to assess the typical economic conditions and demographics of the area.
However, the voucher economics provide a clearer picture. The Fair Market Rent (FMR) for ZIP 56388 is set at $1190 for fiscal year 2024. This figure is crucial for landlords participating in the Section 8 program, as it dictates the maximum rental amount that can be subsidized for eligible tenants. Despite the absence of specific market rent data, the FMR serves as a benchmark for affordable housing rates within the ZIP code.
Given the limited data points, it's difficult to definitively label the ZIP code as either stable or transitional. Typically, a stable ZIP code would have consistent demographic trends and steady economic indicators, whereas a transitional ZIP might show shifts in population, income levels, or housing values. In the case of ZIP 56388, the unknowns suggest a need for further investigation into local real estate trends and socioeconomic factors to accurately determine its status.
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.