The 2 bedroom fair market rent in Graceville (Big Stone County) is $970 for FY2026. Rents here moved +3.2 percent year over year. ZIP 56240 sits in the Traverse 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 | $810 | +2.5% | |
| 2 bedroom | $970 | +3.2% | |
| 3 bedroom | $1,200 | -1.6% | |
| 4 bedroom | $1,360 | -0.7% |
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.
Get an email when rents change in ZIP 56240. We will send a short note, not a newsletter.
Among the 7 Big Stone County ZIP codes with a HUD rent estimate, 56240 ranks the lowest on 2 bedroom fair market rent. That is $20 below the county median of $990. Statewide the median 2 bedroom fair market rent is $1,090, which puts Graceville 11 percent below the Minnesota median. Zillow does not publish a rent index for 56240, so the fair market rent is the only published rent benchmark here. The landlord voucher check compares an asking rent against it.
Of the 6 nearest ZIP codes with an estimate, Clinton 56225 carries the highest 2 bedroom fair market rent at $1,120 and Barry 56210 the lowest at $970, against $970 here.
The HUD fair market rent for a 2 bedroom in ZIP 56240 is $970 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 3.2 percent from FY2025 to FY2026, moving from $940 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 Graceville 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.
