Location: Marshall County, MN | Metro: Marshall County, MN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,340 |
| 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)
ZIP code 56758, located within the Marshall County, MN metro area, presents a unique profile when compared against typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 56758 stands at $1,010 for fiscal year 2026, which is notably higher than the market rent of $581. This discrepancy suggests that while the market rent is lower, the government's assessment of what constitutes a fair rent is significantly higher, indicating potential areas of opportunity for landlords participating in the Section 8 program.
The lack of data on home values in ZIP 56758 makes it difficult to draw direct comparisons with other ZIP codes in the county. However, the 8.0% renter share is an important figure to consider. In many cases, a higher renter share can be indicative of a greater demand for rental properties, which could mean a steady stream of tenants for landlords. Given that the renter share is above average, but not exceptionally high, ZIP 56758 appears to be neither a value pocket nor a premium sub-market within the metro area, but rather a mid-tier neighborhood.
The high FMR relative to the market rent is a key point of interest. For landlords, this means that if they choose to participate in the Section 8 program, they can potentially receive higher rents than the current market rate, making ZIP 56758 a favorable location for such investments. However, without specific data on the home values of neighboring ZIP codes, it is challenging to definitively classify 56758 as a sweet spot for Section 8 investments based solely on its renter share and FMR. Nonetheless, the combination of a reasonable renter share and a high FMR does suggest that there might be a niche for landlords who cater to subsidized housing 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.