The 2 bedroom fair market rent in Heron Lake (Jackson County) is $970 for FY2026. Rents here moved +1.0 percent year over year. ZIP 56137 sits in the Nobles County, MN area.
See how this ZIP compares for Section 8 vouchers, fair market rent against market asking rent for every tracked Minnesota ZIP.
| Unit size | FY2026 FMR | Vs FY2025 | ACS median |
|---|---|---|---|
| Studio | $670 | +3.1% | |
| 1 bedroom | $830 | +6.4% | |
| 2 bedroom | $970 | +1.0% | |
| 3 bedroom | $1,290 | +3.2% | |
| 4 bedroom | $1,310 | -0.8% |
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 5 Jackson County ZIP codes with a HUD rent estimate, 56137 ranks number 4 of 5 on 2 bedroom fair market rent. That is $60 below the county median of $1,030. The county runs from $970 in Jackson 56143 to $1,200 in Alpha 56111. Statewide the median 2 bedroom fair market rent is $1,090, which puts Heron Lake 11 percent below the Minnesota median. Zillow does not publish a rent index for 56137, 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 Jackson County ZIP code with both signals is on the Jackson County Section 8 page.
Of the 6 nearest ZIP codes with an estimate, Brewster 56119 carries the highest 2 bedroom fair market rent at $1,060 and Fulda 56131 the lowest at $1,000, against $970 here.
The HUD fair market rent for a 2 bedroom in ZIP 56137 is $970 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 1.0 percent from FY2025 to FY2026, moving from $960 to $970.
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 $970 for a 2 bedroom, a deal in Heron Lake 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.
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