Section 8 Fair Market Rent (FMR) for ZIP 59076 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,190
1 Bedroom	$1,220
2 Bedrooms	$1,550
3 Bedrooms	$2,150
4 Bedrooms	$2,550
5 Bedrooms	$2,958
6 Bedrooms	$3,313
7 Bedrooms	$3,578
8 Bedrooms	$3,757

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the median home value for ZIP 59076 is $275,000. To analyze the potential Section 8 cap rate for this area, we need to consider two different rental scenarios: the Federal Market Rent (FMR) for a 2-bedroom unit, which is set at $1,520 per month for FY 2026, and the market rent, which is currently not available for ZIP 59076. Given the median home value of $275,000 and the FMR of $1,520 per month, the annualized rental income would be $18,240 ($1,520 * 12 months). This implies a gross yield of approximately 6.63% when calculated as follows: \[ \text{Gross Yield} = \left( \frac{\$18,240}{\$275,000} \right) \times 100 = 6.63\% \] However, the actual market rent is not provided for ZIP 59076, making it difficult to accurately calculate the gross yield under normal market conditions. Since the market rent is not available, we cannot provide a precise figure for the gross yield based on market rates. Considering the 9.1% renter density in ZIP 59076, it's important to note that the demand for rental properties might be lower than in areas with higher rentor density. The Days on Market (DOM) is also not available, which means we don't have information on how quickly properties are typically rented out in this area. This lack of data makes it challenging to assess the realism of the gross yields. In conclusion, the Section 8 scenario provides a gross yield of 6.63%, while the market rent scenario remains undefined due to missing information. Investors should use these figures as a starting point for their own calculations, taking into account the specific characteristics of ZIP 59076, such as its low renter density.

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.