The 2 bedroom fair market rent in Melrude (St. Louis County) is $1,150 for FY2025. Rents here moved +2.7 percent year over year. ZIP 55766 sits in the Duluth, MN-WI area.
See how this ZIP compares for Section 8 vouchers, fair market rent against market asking rent for every tracked Minnesota ZIP.
| Unit size | FY2025 FMR | Vs FY2024 | ACS median |
|---|---|---|---|
| Studio | $790 | +2.6% | |
| 1 bedroom | $900 | +3.4% | |
| 2 bedroom | $1,150 | +2.7% | |
| 3 bedroom | $1,550 | +4.0% | |
| 4 bedroom | $1,930 | +1.6% |
FMR is the HUD Fair Market Rent for this ZIP, the 40th percentile of gross rents. It anchors Section 8 payment standards and runs below top of market. ACS median is the Census survey estimate where available.
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Among the 48 St. Louis County ZIP codes with a HUD rent estimate, 55766 ranks number 23 of 48 on 2 bedroom fair market rent. That is $25 above the county median of $1,125. The county runs from $1,030 in Tower 55790 to $1,850 in Saginaw 55779. Statewide the median 2 bedroom fair market rent is $1,090, which puts Melrude 6 percent above the Minnesota median. The largest single year move since FY2021 came in FY2024, +15.5 percent, and the 2 bedroom estimate has gone from $800 to $1,150 over 4 fiscal years. Zillow does not publish a rent index for 55766, so the fair market rent is the only published rent benchmark here. The landlord voucher check compares an asking rent against it. Voucher competitiveness for every St. Louis County ZIP code with both signals is on the St. Louis County Section 8 page.
Of the 6 nearest ZIP codes with an estimate, Canyon 55717 carries the highest 2 bedroom fair market rent at $1,710 and Makinen 55763 the lowest at $1,030, against $1,150 here.
The HUD fair market rent for a 2 bedroom in ZIP 55766 is $1,150 for FY2025. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 2.7 percent from FY2024 to FY2025, moving from $1,120 to $1,150.
Fair Market Rent is HUD's estimate of the 40th percentile gross rent for a ZIP. It sets Section 8 payment standards, so it is the rent a voucher will support here. Investors use it as a conservative floor when underwriting rental income.
Rent level is only one input. Run the numbers: at $1,150 for a 2 bedroom, a deal in Melrude pencils or it does not based on price, taxes, insurance, and financing. Pencilwrite computes cap rate, cash-on-cash, DSCR, and true ROE from a few inputs.
Pencilwrite turns an address, a price, and these rents into a full underwrite, cap rate, cash-on-cash, DSCR, true ROE, taxes, and an offer you can send. Limited beta access spots open. Sign up for the beta, opening in the next two months. Free.
