The 2 bedroom fair market rent in Effie (Itasca County) is $1,150 for FY2026. Rents here moved +1.8 percent year over year. ZIP 56639 sits in the Koochiching 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 | $800 | -1.2% | |
| 1 bedroom | $900 | +2.3% | |
| 2 bedroom | $1,150 | +1.8% | |
| 3 bedroom | $1,500 | +2.7% | |
| 4 bedroom | $1,700 | +2.4% |
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 24 Itasca County ZIP codes with a HUD rent estimate, 56639 ranks number 6 of 24 on 2 bedroom fair market rent. That is $100 above the county median of $1,050. The county runs from $970 in Squaw Lake 56681 to $1,290 in Bigfork 56628. Statewide the median 2 bedroom fair market rent is $1,090, which puts Effie 6 percent above the Minnesota median. Zillow does not publish a rent index for 56639, 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 Itasca County ZIP code with both signals is on the Itasca County Section 8 page.
Of the 6 nearest ZIP codes with an estimate, Bigfork 56628 carries the highest 2 bedroom fair market rent at $1,290 and Margie 56658 the lowest at $970, against $1,150 here.
The HUD fair market rent for a 2 bedroom in ZIP 56639 is $1,150 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 1.8 percent from FY2025 to FY2026, moving from $1,130 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 Effie 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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