Section 8 Fair Market Rent (FMR) for ZIP 56760 - 2027

Location: Pennington County, MN | Metro: Marshall County, MN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$810
2 Bedrooms	$1,040
3 Bedrooms	$1,360
4 Bedrooms	$1,690
5 Bedrooms	$1,960
6 Bedrooms	$2,195
7 Bedrooms	$2,371
8 Bedrooms	$2,490

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

496

Median Household Income

$85,250

Housing Units

248

Renter Percentage

6.0%

Occupancy Rate

94.8%

Renter Occupied

The ZIP code 56760 is nestled in a suburban setting that offers residents a blend of rural charm and urban convenience. The area is characterized by its relatively low population density, which translates to a quieter living environment compared to denser urban areas. Despite the lack of comprehensive rental and home value data, there are several key metrics that provide insight into the local real estate market dynamics.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,030, indicating the average rent price deemed fair by HUD for a two-bedroom apartment.
The renter share stands at 6.0%, suggesting a smaller proportion of the population rents their homes, which could imply higher competition among renters for available units.
The median income in the area is $85,250, reflecting a middle-class demographic that could support steady rental demand.
Due to limited data on market rent and median home values, it's challenging to provide a direct comparison between these figures and the FMR, but the high median income suggests potential for above-average rental rates.
The days on market (DOM) data is not available, which means we cannot assess how quickly properties are typically sold or rented in this area.
The combination of a moderate FMR and a higher median income indicates that rental properties priced around $1,030 could be well-received, especially if they offer amenities that cater to the local lifestyle preferences.

In summary, while the specific market rent and median home values remain elusive, the ZIP 56760 presents a favorable investment climate for rental properties, particularly those that can leverage the area's unique blend of rural and suburban characteristics. The moderate FMR and high median income suggest a potential for competitive rental pricing, making it a viable option for landlords and small-portfolio investors seeking stable returns. However, the scarcity of comprehensive real estate data underscores the need for thorough local market research before making any investment decisions.

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.