The 2 bedroom fair market rent in Erskine (Polk County) is $970 for FY2026. Rents here moved +4.3 percent year over year. ZIP 56535 sits in the Red Lake 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 | $770 | +5.5% | |
| 1 bedroom | $770 | +4.1% | |
| 2 bedroom | $970 | +4.3% | |
| 3 bedroom | $1,350 | +3.1% | |
| 4 bedroom | $1,630 | +3.8% |
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 16 Polk County ZIP codes with a HUD rent estimate, 56535 ranks number 13 of 16 on 2 bedroom fair market rent. That is $25 below the county median of $995. The county runs from $970 in Winger 56592 to $1,170 in Fisher 56723. Statewide the median 2 bedroom fair market rent is $1,090, which puts Erskine 11 percent below the Minnesota median. The largest single year move since FY2021 came in FY2024, +9.6 percent, and the 2 bedroom estimate has gone from $750 to $970 over 5 fiscal years. Zillow does not publish a rent index for 56535, 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 Polk County ZIP code with both signals is on the Polk County Section 8 page.
Of the 6 nearest ZIP codes with an estimate, Mentor 56736 carries the highest 2 bedroom fair market rent at $1,020 and Mcintosh 56556 the lowest at $970, against $970 here.
The HUD fair market rent for a 2 bedroom in ZIP 56535 is $970 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 4.3 percent from FY2025 to FY2026, moving from $930 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 Erskine 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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