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Clay County/Moorhead/56560

56560

ZIPSAFMR
Clay County, MN
Zillow

ZIP Investment Score

81Below average

095130300
BRFMR
Eff. Rent
0 BR$840$820
1 BR$970$920
2 BR$1,190$1,310
3 BR$1,650$1,820
4 BR$1,990$2,040
5 BR$2,289Not available
6 BR$2,632Not available
7 BR$3,027Not available
8 BR$3,481Not available

Purchase Price Calculator

Maximum purchase price
$132,749

Cost breakdown

+Likely effective rent$1,310
HUD FMR$1,190
Market rent$1,670
Est. payment standard (110%)Used$1,310
-Principal and interest-$671
Loan amount$106,199
Down payment$26,550
Rate6.50%
Term30 years
-Operating costs-$439
Property taxes-$133
Insurance-$175
Utilities$0
HOA$0
Management-$131
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,212(79.9% ROI)
Projected value
$142,956
Return breakdown
Property appreciation+$10,207
Loan principal paid down+$3,805
Rental cash flow+$7,200
5-year hold
+$36,229(136.5% ROI)
Projected value
$150,193
Return breakdown
Property appreciation+$17,444
Loan principal paid down+$6,785
Rental cash flow+$12,000
10-year hold
+$77,349(291.3% ROI)
Projected value
$169,930
Return breakdown
Property appreciation+$37,181
Loan principal paid down+$16,168
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.02
1 BR
1.05
2 BR
0.71
3 BR
0.79
4 BR
0.97
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 56560 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 56560 (Moorhead, MN) is $1,190 a month. That is up 1.7% from $1,170 in FY 2026. Moorhead is in the Fargo, ND-MN MSA. 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 metro-wide two-bedroom FMR of $1,104. Among 20 ZIP codes in Clay County, 56560 is tied for the 4th-highest two-bedroom rent (county range $1,010–$1,320). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 56560 is 14% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 56560
BedroomsFY 2027Change90–110% range
Studio$840+3.7%$756–$924
1BR$9700.0%$873–$1,067
2BR$1,190+1.7%$1,071–$1,309
3BR$1,650+1.2%$1,485–$1,815
4BR$1,990+1.5%$1,791–$2,189

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 56560
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$840$970$1,190$1,650$1,990
FY 2026$810$970$1,170$1,630$1,960
FY 2025$710$860$1,040$1,460$1,750
FY 2024$670$800$970$1,370$1,650
FY 2023$630$750$910$1,290$1,550

Two-bedroom rent in nearby Clay County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 56560
56546$1,180−0.8%
56547$1,060−10.9%
56549$1,010−15.1%
56552$1,010−15.1%
56554$1,010−15.1%
56560Current$1,190—
56561$1,180−0.8%
56562$1,1900.0%
56563$1,1900.0%
56572$1,100−7.6%
56574$1,010−15.1%
56580$1,010−15.1%

Questions about ZIP 56560 rents

How much will Section 8 pay for a two-bedroom in ZIP 56560?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,104, which applies unless the housing authority uses Small Area FMRs, that basic range is $994 to $1,214 a month; under the ZIP-level Small Area FMR of $1,190 it would be $1,071 to $1,309. 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 56560 in?

ZIP 56560 is in the Fargo, ND-MN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,104.

How much did fair market rent change in ZIP 56560 for FY 2027?

The two-bedroom FMR rose 1.7%, from $1,170 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 30.8%.

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