Location: Marshall County, MN | Metro: Marshall County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
22.8% of residents in ZIP 56713 are renters, indicating a notable demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140, which provides a benchmark for rental pricing. However, the current market rent based on Census ACS data is significantly lower at $433, suggesting there may be opportunities for landlords to increase rents without alienating tenants. The median income of $87,188 offers insight into the financial stability of potential tenants, though it's important to note that the median home value is listed as N/A, which could imply a predominantly rental-based housing market. The lack of data on days on market (DOM) and the percentage of price-cut share indicates a stable market where property values may not fluctuate widely. Given these figures, landlords and small-portfolio investors can expect a steady stream of tenants willing to pay close to or above the market rent, with the potential to adjust prices closer to the FMR. The verdict on Section 8 participation in ZIP 56713 is positive, with the program providing a reliable source of tenants who can afford the current market rates.
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.