The 2 bedroom fair market rent in Bemidji (Beltrami County) is $1,150 for FY2026, and typical market asking rent is $1,357. Rents here moved +5.5 percent year over year. ZIP 56601 sits in the Bemidji, 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 | $880 | +10.0% | |
| 1 bedroom | $890 | +7.2% | |
| 2 bedroom | $1,150 | +5.5% | |
| 3 bedroom | $1,390 | +5.3% | |
| 4 bedroom | $1,750 | +12.2% |
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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Market asking rent runs about $207 above the 2 bedroom FMR, a 18 percent premium. For an investor that gap is a cushion: underwrite at or near FMR and the market gives you room, and Section 8 tenants at payment standard are competitive with market rate here.
Zillow ZORI is a smoothed index of asking rents across all unit sizes. HUD FMR is a 2 bedroom 40th percentile estimate. They measure different things, so treat the spread as a signal, not a price. See the full FMR versus market rent spread for every Minnesota ZIP with both signals.
Among the 14 Beltrami County ZIP codes with a HUD rent estimate, 56601 ranks number 3 of 14 on 2 bedroom fair market rent. That is $155 above the county median of $995. The county runs from $990 in Waskish 56685 to $1,330 in Tenstrike 56683. Statewide the median 2 bedroom fair market rent is $1,090, which puts Bemidji 6 percent above the Minnesota median. Voucher competitiveness for every Beltrami County ZIP code with both signals is on the Beltrami County Section 8 page.
Of the 6 nearest ZIP codes with an estimate, Tenstrike 56683 carries the highest 2 bedroom fair market rent at $1,330 and Hines 56647 the lowest at $990, against $1,150 here.
The HUD fair market rent for a 2 bedroom in ZIP 56601 is $1,150 for FY2026. Typical market asking rent is around $1,357 per Zillow as of 2026-07. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 5.5 percent from FY2025 to FY2026, moving from $1,090 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 Bemidji 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.
