Real Estate Investing in Forbes, Minnesota (55738)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55738 (Forbes, MN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 22.1% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Forbes, MN (55738)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 55738 Forbes
The 55738 ZIP in Forbes, MN is a local-operator market. Outside capital chasing a $208K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 55738 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within MN, ZIP 55738 trails on several market indicators that neighboring Saint Louis County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Resident income in 55738 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Forbes's stable or hybrid ZIPs before stepping into 55738. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Forbes:
Market Trends
Home Value History (with trend line)
📊 How Does 55738 Compare?
| Metric | 55738 | Forbes | Duluth, MN-WI | Minnesota |
|---|---|---|---|---|
| Home Value | $208,241 | $208,241 | N/A | $340,597 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 4.9% |
| Avg Rent | $927 | $927 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55738 (Forbes, MN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 55738 (Forbes, MN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $208,241 |
| Monthly Rent | $927 |
| Price-to-Rent | 18.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.5% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +14.7% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 55738
Population: 584
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
Are landlord laws favorable in Forbes, MN?
For rental operators, Forbes, MN rates as balanced. The regulatory environment standard buy-and-hold operations.
What is the smart move for investors in Forbes, MN?
A careful cash-flow rentals with hands-on management strategy Forbes, MN best. The market produces consistent results for that approach at the $208K price point.
What is the typical home price in Forbes, MN?
Median home price in Forbes, MN is near $208K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
Does Forbes, MN make sense for an investment property?
Forbes, MN registers an investability rating of 3.0/5, with median home values near $208K and average rents around $927/mo. That combination puts it in the impressive tier for investor interest.
What is the renter demographic in Forbes, MN?
The renter base in Forbes, MN is reasonable for the $927/mo price point. Screening well and pricing to market typically yields steady tenants.
You know 55738 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 55738 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 55738 ranks in Duluth, MN-WI
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 55738 (Forbes)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 55738 (Forbes, MN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.