Section 8 Fair Market Rent (FMR) for ZIP 56542 - 2027

Location: Mahnomen County, MN | Metro: Grand Forks, ND-MN MSA

Investment Score for ZIP 56542

D
Monthly Rent (2BR)
$1,010
Median Price (2BR)
$145,350
1% Rule
0.69%
Annual Yield
8.34%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$810
1 Bedroom$820
2 Bedrooms$1,010
3 Bedrooms$1,400
4 Bedrooms$1,690
5 Bedrooms$1,960
6 Bedrooms$2,195
7 Bedrooms$2,371
8 Bedrooms$2,490

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
2BR $1,010 $145,350 0.69% D
3BR $1,400 $224,540 0.62% D
4BR $1,690 $244,431 0.69% D
5BR $1,960 $311,866 0.63% D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
2,486
Median Household Income
$59,706
Housing Units
1,208
Renter Percentage
31.8%
Occupancy Rate
85.6%
Renter Occupied
329

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.