Location: Kittson County, MN | Metro: Kittson County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 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)
The ZIP code 56729 presents an interesting scenario for both renters and landlords. The median household income stands at $78,750, which places financial constraints on the ability of renters to pay the market rate of $658 per month for rent. This figure is derived from the Census ACS data, which provides a clear snapshot of the local rental market conditions.
However, when comparing the market rate to the federal payment standard for Section 8 vouchers, the disparity becomes more pronounced. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This means that the voucher payment significantly exceeds the current market rate, offering a substantial incentive for landlords to participate in the Section 8 program.
With only 20.0% of the 121 residents being renters, the competition among landlords is relatively low. However, the affordability gap between the median income and the voucher payment standard suggests that there is a segment of the population who might struggle to pay even the market rate without assistance. For landlords, this implies that cash-paying tenants may be harder to come by, especially those willing to pay close to the FMR.
The takeaway for landlords considering their strategy is straightforward. Given the higher voucher payment compared to the market rate, participating in the Section 8 program could ensure a steady stream of rental income without the risk of vacancy. Landlords should weigh the benefits of guaranteed payments against the administrative requirements of the voucher program. In ZIP 56729, the numbers suggest that the Section 8 route could be more financially advantageous and less risky in terms of finding reliable tenants.
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.