Location: Clearwater County, MN | Metro: Beltrami County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
ZIP code 56671, located within the Clearwater County, MN metro area, presents unique characteristics when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for 56671 is set at $990 for fiscal year 2026, which is significantly higher than the market rent figure of $399. This discrepancy suggests that 56671 might be considered a value pocket for landlords participating in the Section 8 program, as they can potentially receive higher rents through the subsidy than what the market currently offers.
The lack of a specific home value figure for 56671 indicates that it may not have a substantial number of single-family homes or properties for sale, possibly due to being a predominantly rental area. This aligns with the 23.8% renter share, which is notably high. In Clearwater County, MN, ZIP codes with a higher percentage of renters often indicate areas where there is a strong presence of Section 8 housing, making them attractive for landlords who want to ensure steady income from the government subsidy.
Given the high FMR relative to market rent and the significant renter share, it's reasonable to infer that 56671 is an area where Section 8 tenants play a crucial role in the rental market. Landlords here can benefit from the higher subsidized rents while serving a population that might otherwise struggle to find affordable housing. However, the absence of home value data means that investing in property purchases might not be as straightforward, focusing instead on rental investments.
To further understand how 56671 fits into the broader context of Clearwater County, MN, and to confirm if it indeed represents a sweet spot for Section 8 investments, it would be beneficial to compare these figures with those of other ZIP codes in the county. A high renter share coupled with below-metro average home values typically points to areas with a greater concentration of low-income households, which could be ideal for landlords looking to engage with the Section 8 program.
In summary, ZIP code 56671 appears to be a value pocket within the Clearwater County, MN metro area, offering landlords a chance to secure higher rents through the Section 8 program than what the current market rent suggests. The high renter share supports this inference, indicating a robust demand for subsidized rentals.
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.