Location: Becker County, MN | Metro: Becker 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 | $830 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $489,584 | 0.24% | F |
| 3BR | $1,560 | $489,894 | 0.32% | F |
| 4BR | $1,750 | $652,986 | 0.27% | F |
U.S. Census Bureau data (2024)
The market in Audubon, Minnesota, represented by ZIP code 56511, presents a dynamic landscape that is indicative of shifting housing pressures. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000, while the current market rent, based on Census ACS data, stands at $1,143. This suggests that the rental market is slightly above the benchmark established by HUD, indicating a scenario where demand might be keeping pace with or even slightly exceeding supply.
Audubon's median home value is $463,305, which places it in a category where homeownership is relatively accessible but not without financial consideration. The absence of specific data regarding the percentage of price cuts and days on market (DOM) makes it challenging to definitively state whether supply is outpacing demand or vice versa. However, given the slight premium on market rent over FMR, it can be inferred that the local rental market is robust, possibly due to a mix of employment opportunities and population stability.
The 8.8% renter share is a critical figure for understanding long-term housing pressure. In a community with a lower renter share, it implies a higher rate of homeownership, which can stabilize housing markets. Conversely, an increasing trend in renter share could signal rising housing pressure, as more residents opt for rental properties due to affordability concerns or lifestyle choices. While the exact trajectory of the renter share is not provided, its current level suggests a balanced market where most residents own their homes, yet there remains a consistent demand for rental units.
In summary, the ZIP code 56511 in Audubon, MN, is a market characterized by a steady rental premium and moderate home values. The low renter share points towards a predominantly owner-occupied community, but the rental market dynamics suggest a resilient demand for rental properties. For landlords and small-portfolio investors, this translates into a stable environment with opportunities for growth, particularly in rental properties that meet the needs of a diverse tenant base.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.