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Polk County/Trail/56684

56684

ZIPSAFMR
Polk County, MN
Zillow

ZIP Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$850$850
1 BR$900$900
2 BR$1,140$1,140
3 BR$1,530$1,530
4 BR$1,740$1,740
5 BR$2,001Not available
6 BR$2,301Not available
7 BR$2,646Not available
8 BR$3,043Not available

Purchase Price Calculator

Maximum purchase price
$107,487

Cost breakdown

+Likely effective rent$1,140
HUD FMRUsed$1,140
Market rentN/A
Est. payment standardN/A
-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

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
--
Mortgage rate
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ZIP 56684 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 56684 (Trail, MN) is $1,140 a month. That is up 14.0% from $1,000 in FY 2026. Trail is in the Grand Forks, 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 $1,014. Among 23 ZIP codes in Polk County, 56684 has the 4th-highest two-bedroom rent (county range $1,010–$1,180). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 56684 is 9% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 56684
BedroomsFY 2027Change90–110% range
Studio$850+18.1%$765–$935
1BR$900+16.9%$810–$990
2BR$1,140+14.0%$1,026–$1,254
3BR$1,530+16.8%$1,377–$1,683
4BR$1,740+16.8%$1,566–$1,914

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 56684
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$850$900$1,140$1,530$1,740
FY 2026$720$770$1,000$1,310$1,490
FY 2025$680$760$990$1,260$1,440
FY 2024$710$720$910$1,280$1,540
FY 2023$640$660$840$1,180$1,430

Two-bedroom rent in nearby Polk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 56684
56644$1,010−11.4%
56646$1,180+3.5%
56651$1,180+3.5%
56684Current$1,140—
56710$1,010−11.4%
56716$1,010−11.4%
56721$1,010−11.4%
56722$1,020−10.5%
56723$1,060−7.0%
56736$1,010−11.4%
56742$1,060−7.0%
56744$1,160+1.8%

Questions about ZIP 56684 rents

How much will Section 8 pay for a two-bedroom in ZIP 56684?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-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 $1,140 it would be $1,026 to $1,254. 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 56684 in?

ZIP 56684 is in the Grand Forks, ND-MN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 56684 for FY 2027?

The two-bedroom FMR rose 14.0%, from $1,000 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 35.7%.

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