Location: Hubbard County, MN | Metro: Hubbard County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The ZIP code 56458 represents a small, affluent community with a population of 301 residents. Only 4.5% of these residents are renters, indicating a predominantly owner-occupied area. The median household income in this region stands at $85,625, suggesting a high standard of living and financial stability among its inhabitants. Despite the lack of specific data on median home values, the overall demographic profile points towards an upscale neighborhood.
From an investment perspective, the rental market in ZIP 56458 is relatively modest given the low percentage of renters. However, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,110, which is notably lower than the actual market rent of $1,208 as reported by the Census Bureau's American Community Survey (ACS). This discrepancy implies that properties receiving Section 8 vouchers can command slightly higher rents than the government-set FMR, offering a potential margin for landlords.
Given the characteristics of ZIP 56458, it is better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The small size and high-income demographics suggest limited demand for subsidized housing, making it challenging for passive operators to find enough tenants. Conversely, a hands-on approach could leverage the area's affluence and potentially increase property values through improvements, thereby attracting a broader range of tenants willing to pay above the FMR. This strategy would be more aligned with the economic realities and opportunities present in this upscale ZIP code.
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.