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Douglas County/Alexandria/56308

56308

ZIPSAFMR
Douglas County, MN
Zillow

ZIP Investment Score

56Below average

095130300
BRFMR
Eff. Rent
0 BR$780$860
1 BR$800$880
2 BR$1,040$1,140
3 BR$1,440$1,580
4 BR$1,520$1,670
5 BR$1,748Not available
6 BR$2,010Not available
7 BR$2,312Not available
8 BR$2,658Not available

Purchase Price Calculator

Maximum purchase price
$107,487

Cost breakdown

+Likely effective rent$1,140
HUD FMR$1,040
Market rent$1,480
Est. payment standard (110%)Used$1,140
-Principal and interest-$544
Loan amount$85,990
Down payment$21,497
Rate6.50%
Term30 years
-Operating costs-$396
Property taxes-$107
Insurance-$175
Utilities$0
HOA$0
Management-$114
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,546(86.3% ROI)
Projected value
$115,752
Return breakdown
Property appreciation+$8,265
Loan principal paid down+$3,081
Rental cash flow+$7,200
5-year hold
+$31,619(147.1% ROI)
Projected value
$121,612
Return breakdown
Property appreciation+$14,125
Loan principal paid down+$5,494
Rental cash flow+$12,000
10-year hold
+$67,196(312.6% ROI)
Projected value
$137,592
Return breakdown
Property appreciation+$30,105
Loan principal paid down+$13,091
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.83
1 BR
0.78
2 BR
0.70
3 BR
0.86
4 BR
0.86
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 56308 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 56308 (Alexandria, MN) is $1,040 a month. That is up 4.0% from $1,000 in FY 2026. Alexandria is in the Douglas 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 $1,027. Among 18 ZIP codes in Douglas County, 56308 is tied for the 7th-highest two-bedroom rent (county range $1,010–$1,230).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 56308
BedroomsFY 2027Change90–110% range
Studio$780+5.4%$702–$858
1BR$800+2.6%$720–$880
2BR$1,040+4.0%$936–$1,144
3BR$1,440+3.6%$1,296–$1,584
4BR$1,520+4.8%$1,368–$1,672

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 56308
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$780$800$1,040$1,440$1,520
FY 2026$740$780$1,000$1,390$1,450
FY 2025$700$750$960$1,240$1,330
FY 2024area FMR$672$789$962$1,276$1,281
FY 2023area FMR$581$710$869$1,163$1,167

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

Two-bedroom rent in nearby Douglas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 56308
56308Current$1,040—
56309$1,0400.0%
56315$1,050+1.0%
56319$1,030−1.0%
56326$1,010−2.9%
56327$1,050+1.0%
56332$1,0400.0%
56334$1,060+1.9%
56339$1,010−2.9%
56341$1,030−1.0%
56343$1,010−2.9%
56349$1,160+11.5%

Questions about ZIP 56308 rents

How much will Section 8 pay for a two-bedroom in ZIP 56308?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,027, which applies unless the housing authority uses Small Area FMRs, that basic range is $924 to $1,130 a month; under the ZIP-level Small Area FMR of $1,040 it would be $936 to $1,144. 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 56308 in?

ZIP 56308 is in the Douglas County, MN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,027.

How much did fair market rent change in ZIP 56308 for FY 2027?

The two-bedroom FMR rose 4.0%, from $1,000 in FY 2026 to $1,040 in FY 2027. Since FY 2025 it has risen 8.3%.

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