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 | $890 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $400,785 | 0.31% | F |
| 3BR | $1,710 | $506,113 | 0.34% | F |
| 4BR | $1,870 | $571,749 | 0.33% | F |
U.S. Census Bureau data (2024)
The ZIP code 56443, located in Cushing, MN, represents a modest-sized community with a population of 1,537 residents. Only 9.5% of these residents are renters, indicating that this area is predominantly homeowner-dominated rather than renter-heavy. The median household income stands at $71,310, which places it above the national average.
Despite the relatively low percentage of renters, there is still a presence of Section 8 tenants. However, the demand for rental properties using vouchers will be less intense compared to areas with a higher percentage of renters. The market rent in this area is $1,098 per month, which consumes approximately 15.4% of the median household income. This is calculated by taking the monthly rent ($1,098) and dividing it by the annual median household income ($71,310), then multiplying by 12 months to get the percentage of annual income spent on rent.
To put this into perspective, the Fair Market Rent (FMR) for the metro area, as determined by HUD for fiscal year 2026, is set at $1,160. This means that the actual market rent in Cushing, MN is slightly below the FMR, suggesting that rents are somewhat affordable relative to the broader regional context. The difference between the FMR and the market rent is $62, which could be significant for potential tenants relying on vouchers.
A landlord in this ZIP code can expect a tenant profile that includes a mix of individuals and families who may have limited income but are seeking stable housing options. Given the low percentage of renters and the median income level, these tenants would likely represent a smaller segment of the overall population. They would be individuals who benefit from the rental assistance programs such as Section 8, where the $1,098 market rent aligns closely with their financial capabilities. It's important for landlords to understand that while vouchers can cover a substantial portion of the rent, they may need to be flexible and patient in the application process, given the lower demand for rental units in the area.
In summary, ZIP 56443 is not a prime location for large-scale rental investments or high voucher demand. Instead, it offers a niche opportunity for landlords willing to cater to a smaller group of Section 8 tenants, ensuring that the rent remains competitive and affordable within the context of the local economy.
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.