Location: Roseau County, MN | Metro: Roseau County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 56751 presents a nuanced scenario for both landlords and small-portfolio investors. With a median home value of $230,366, the area stands at a pivotal point where affordability meets demand. The fact that only 0.1% of listings have been reduced indicates a robust seller's market, suggesting that homes are likely to sell at or near their asking price. This signals strong pricing power for the next 12-24 months, as sellers can maintain their position without significant concessions.
The median days on market (DOM) being listed as N/A suggests either a very quick sale rate or a lack of sufficient data to determine an average. In either case, it points towards a brisk market, where homes are selling swiftly, further reinforcing the idea of strong pricing power.
On the rental side, the forward market rate (FMR) for ZIP 56751 is set at $1,080 for the fiscal year 2026, compared to the current market rate of $1,015. This indicates a projected increase in rental values, which could be beneficial for landlords looking to adjust their rents to align with future expectations. However, the gap between the FMR and the current market rate also suggests potential resistance from tenants, who may find the increase challenging.
For long-hold investors, the setup implies a realistic appreciation thesis. The steady rise in median home values and the projected increase in rental rates suggest that property values in ZIP 56751 will continue to grow, albeit at a measured pace. This growth is underpinned by the strong seller's market and the anticipated rise in rental prices, which often correlate with increases in home values.
In conclusion, the combination of high median home values, minimal reductions in listing prices, and a quick sale rate signals a favorable environment for maintaining and potentially increasing property prices. The rental market, while showing signs of growth, may require careful navigation to ensure that adjustments in rent are made smoothly and sustainably. Long-term investors can expect moderate appreciation, driven by these market dynamics.
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.