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Cottonwood County/Westbrook/56183

56183

ZIPSAFMR
Cottonwood County, MN
Zillow

ZIP Investment Score

117Above average

095130300
BRFMR
Eff. Rent
0 BR$730$730
1 BR$830$830
2 BR$1,010$1,010
3 BR$1,390$1,390
4 BR$1,480$1,480
5 BR$1,702Not available
6 BR$1,957Not available
7 BR$2,251Not available
8 BR$2,589Not available

Purchase Price Calculator

Maximum purchase price
$88,169

Cost breakdown

+Likely effective rent$1,010
HUD FMRUsed$1,010
Market rentN/A
Est. payment standardN/A
-Principal and interest-$446
Loan amount$70,535
Down payment$17,634
Rate6.50%
Term30 years
-Operating costs-$364
Property taxes-$88
Insurance-$175
Utilities$0
HOA$0
Management-$101
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,506(93.6% ROI)
Projected value
$94,948
Return breakdown
Property appreciation+$6,779
Loan principal paid down+$2,527
Rental cash flow+$7,200
5-year hold
+$28,093(159.3% ROI)
Projected value
$99,755
Return breakdown
Property appreciation+$11,586
Loan principal paid down+$4,507
Rental cash flow+$12,000
10-year hold
+$59,433(337.0% ROI)
Projected value
$112,864
Return breakdown
Property appreciation+$24,695
Loan principal paid down+$10,738
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 56183 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 56183 (Westbrook, MN) is $1,010 a month. That is up 4.1% from $970 in FY 2026. Westbrook is in the Cottonwood County, MN non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,014. Among 14 ZIP codes in Cottonwood County, 56183 is tied for the 7th-highest two-bedroom rent (county range $1,010–$1,180). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 56183 is 4% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 56183
BedroomsFY 2027Change90–110% range
Studio$730+9.0%$657–$803
1BR$830+7.8%$747–$913
2BR$1,010+4.1%$909–$1,111
3BR$1,390+3.7%$1,251–$1,529
4BR$1,480+3.5%$1,332–$1,628

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 56183
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$730$830$1,010$1,390$1,480
FY 2026$670$770$970$1,340$1,430
FY 2025$640$750$930$1,220$1,390
FY 2024area FMR$613$751$905$1,128$1,254
FY 2023area FMR$552$706$826$1,029$1,253

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Cottonwood County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 56183
56087$1,0100.0%
56101$1,070+5.9%
56118$1,050+4.0%
56131$1,030+2.0%
56137$1,0100.0%
56145$1,0100.0%
56152$1,0100.0%
56159$1,050+4.0%
56166$1,0100.0%
56174$1,180+16.8%
56180$1,0100.0%
56183Current$1,010—

Questions about ZIP 56183 rents

How much will Section 8 pay for a two-bedroom in ZIP 56183?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,010 it would be $909 to $1,111. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 56183 in?

ZIP 56183 is in the Cottonwood County, MN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 56183 for FY 2027?

The two-bedroom FMR rose 4.1%, from $970 in FY 2026 to $1,010 in FY 2027. Since FY 2025 it has risen 8.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentWestbrook, MN fair market rentMN statewide rentsWhat is SAFMR?Data sources