Section 8 Fair Market Rent (FMR) for ZIP 56577 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 56577 is located in Richwood, Minnesota, within Becker County. It is classified as a PO Box ZIP code, which means it is primarily used for postal services rather than residential purposes. As such, detailed demographic information such as population, median income, and median home value is not available for this specific ZIP code.

However, focusing on the economic aspects relevant to landlords and small-portfolio investors, the Fair Market Rent (FMR) for ZIP 56577 in the fiscal year 2026 is set at $1,030. This figure is crucial for understanding the rental landscape, particularly for those interested in operating as hands-off voucher landlords. Given the lack of market rent data, the FMR serves as a benchmark for the area, indicating that landlords can expect to receive approximately $1,030 per month for a unit through the Section 8 program.

The classification of ZIP 56577 as a PO Box ZIP suggests that it may not be ideal for hands-on value-add buyers looking to manage properties directly. Instead, it is better suited for hands-off operators who rely on government vouchers to cover rental costs. For these investors, the consistent FMR provides a reliable income stream without the need for active property management.

In summary, ZIP 56577 in Richwood, MN, is best suited for hands-off Section 8 voucher landlords due to its PO Box designation and the availability of the $1,030 FMR. It is less favorable for hands-on value-add buyers seeking direct property management opportunities.

Data Sources: FMR data from HUD (2027).

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.