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 rental market in ZIP 56395, located in Minnesota, presents an intriguing dynamic that can be described as a market in motion. The Fair Market Rent (FMR) for the area is set at $1190 for the fiscal year 2024, indicating the government's benchmark for what is considered a fair rent price in the region. However, the lack of data on the market rent suggests that there might be limited private sector activity or reporting in this area, which could imply either a nascent market or one that is not heavily monitored.
The absence of percentage data on price-cut share and days on market (DOM) signals that there isn't enough historical transactional data to make a precise assessment of how quickly properties are renting or if landlords are frequently lowering their prices to attract tenants. This gap in information makes it difficult to determine whether supply is currently outpacing demand or vice versa. Nonetheless, the fact that FMR is established points towards a steady need for affordable housing in the area, even if specific trends are unclear.
The median home value being listed as N/A further complicates the picture. It suggests that there might not be a significant number of home sales in the area, which could indicate a strong preference for renting over owning. This preference for renting, combined with the established FMR, implies that there could be ongoing long-term housing pressure in ZIP 56395, as renters continue to seek affordable options. Landlords and small-portfolio investors should be aware of these dynamics and consider the potential for sustained demand for rental properties in the area.
In summary, ZIP 56395 appears to be a market characterized by a reliance on rental housing, as evidenced by the established FMR and the lack of data on home values and market rent. The absence of detailed supply and demand metrics leaves room for speculation but underscores the importance of monitoring local real estate trends closely to understand the evolving landscape of this market in motion.
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.