Location: Becker County, MN | Metro: Becker County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
80.3% of residents in ZIP code 56591 are renters, indicating a strong demand for rental properties. With a Fair Market Rent (FMR) of $970 for the metro area in fiscal year 2026, landlords can set competitive rates that align with government guidelines for affordable housing. The Census ACS reports a market rent of $196, which is significantly lower than the FMR, suggesting an opportunity for landlords to potentially increase rents while still remaining within affordable ranges.
$16,793 represents the median income for this ZIP code, which is relatively low compared to national averages. This economic context underscores the importance of Section 8 vouchers for many residents. Given the high renter share of 80.3%, it's clear that most tenants rely heavily on the local rental market, making affordable options critical.
The data does not provide specific days on market (DOM) or percentage of price-cut share for this ZIP code, which could be due to limited data availability or the unique nature of the rental market here. However, the significant gap between the FMR and the current market rent suggests that there might be room for adjustment without deterring potential tenants who benefit from the voucher program.
In conclusion, the combination of a high renter share and a low median income makes ZIP 56591 particularly suitable for Section 8 participation. Landlords can expect steady demand for their properties, with the government-backed FMR of $970 providing a reliable benchmark for setting rents. The Section 8 program offers a stable source of tenants and rental income, making it a favorable option for landlords and small-portfolio investors in this area.
Section 8 Verdict: Favorable
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.