Section 8 Fair Market Rent (FMR) for ZIP 56676 - 2027

Location: Clearwater County, MN | Metro: Beltrami County, MN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$940
1 Bedroom	$1,050
2 Bedrooms	$1,340
3 Bedrooms	$1,600
4 Bedrooms	$2,040
5 Bedrooms	$2,366
6 Bedrooms	$2,650
7 Bedrooms	$2,862
8 Bedrooms	$3,005

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,780

Median Household Income

$74,167

Housing Units

1,059

Renter Percentage

9.2%

Occupancy Rate

71.6%

Renter Occupied

The ZIP code 56676, located in a suburban setting within XX, offers a stable environment for real estate investment, particularly for those interested in Section 8 housing opportunities. The area benefits from a mix of residential properties, including single-family homes and apartments, which cater to both homeowners and renters.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,200, providing a benchmark for rental prices that landlords can aim for to ensure compliance with HUD guidelines.
The average market rent, according to Census ACS data, stands at $1,125, slightly below the FMR but still indicative of a healthy rental market.
The median home value in the area is $244,550, suggesting that property values are relatively moderate compared to other regions, offering good potential for appreciation.
Renters make up 9.2% of the population, indicating a smaller but steady demand for rental properties.
While the Days on Market (DOM) data is currently N/A, this could imply either a very active market where properties sell quickly or a lack of recent sales activity.
The median household income is $74,167, which supports the ability of residents to afford the local cost of living and contributes to the stability of the rental market.

Investors looking to enter the Section 8 market in ZIP 56676 should note the favorable alignment between the FMR and market rent rates, which suggests a manageable gap between government-subsidized rents and market-level rents. With a median home value of $244,550, there's potential for property appreciation over time. However, the relatively low renter share of 9.2% means that landlords might need to diversify their portfolio to include a mix of subsidized and market-rate units to maximize occupancy. The median income figure provides reassurance about the financial health of the area, supporting the long-term viability of rental investments.

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.