Section 8 Fair Market Rent (FMR) for ZIP 56440 - 2027

Location: Todd County, MN | Metro: Todd County, MN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$780
2 Bedrooms	$1,010
3 Bedrooms	$1,310
4 Bedrooms	$1,630
5 Bedrooms	$1,891
6 Bedrooms	$2,118
7 Bedrooms	$2,287
8 Bedrooms	$2,401

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,395

Median Household Income

$53,250

Housing Units

566

Renter Percentage

18.5%

Occupancy Rate

92.6%

Renter Occupied

The ZIP code 56440, located in a suburban setting within the state of Minnesota, offers a stable and predictable rental market for landlords and small-portfolio investors. The area benefits from a mix of residential and commercial developments, providing ample opportunities for investment in both single-family homes and multi-unit properties.

Fair Market Rent (FMR): The FMR for the metro area in fiscal year 2026 is set at $970, indicating a solid baseline for rental pricing in the area.
Market Rent: According to the latest Census ACS data, the average market rent in ZIP 56440 is $813, suggesting that rents are currently below the FMR and have room to grow.
Median Home Value: At $212,016, the median home value is relatively low, making it an attractive option for first-time buyers and investors looking for affordable entry points.
Renter Share: With 18.5% of residents being renters, there is a significant but not overwhelming demand for rental properties, balancing out the market.
Days on Market (DOM): Data on days on market is not available, which could imply either a steady flow of property sales or a lack of recent activity in the real estate market.
Median Income: The median income of $53,250 provides insight into the economic stability of the area, with most residents having the means to afford modest housing costs.

Investors in ZIP 56440 can expect a balanced market where rental properties are priced slightly below the Fair Market Rent, offering potential for growth. The median home value indicates affordability, while the renter share suggests a moderate demand without the risk of oversaturation. Given the median income, residents have the financial capacity to support current and potentially higher rental rates, making this a viable area for investment. However, the absence of DOM data should be considered when evaluating the liquidity of the real estate market.

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.