Location: Marshall County, MN | Metro: Grand Forks, ND-MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The classification of ZIP 56710 hinges on analyzing its yield and stability metrics. For yield, we compare the Fair Market Rent (FMR) of $910 against the market rent of $1,075. The FMR is significantly lower than the market rent, indicating that landlords can potentially charge a higher rent than the benchmark, which could be advantageous in terms of rental income. However, without specific figures on home values, it's challenging to assess the overall profitability of investments in this area purely from a flipping perspective.
Moving to stability, the data reveals that 18.6% of residents are renters, suggesting a relatively small rental market. Additionally, the median household income is $68,000, which is a moderate figure but does not provide enough detail on the financial health of potential tenants. The lack of data on days on market (DOM) also means we cannot gauge how quickly properties might be rented out once listed.
Based on these figures, ZIP 56710 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The disparity between the FMR and market rent suggests some room for profit, but the relatively low percentage of renters and moderate income levels indicate a need for careful tenant selection to ensure stable cash flows. Landlords should focus on maintaining good occupancy rates and selecting reliable tenants over seeking high yields through rapid property flips.
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.