Real Estate Investing in Bemidji, Minnesota (56601)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56601 (Bemidji, 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: 12.0% of homes vacant — above national norms.
What’s happening in Bemidji, MN (56601)?
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Market Analysis: 56601 Bemidji
From an investor standpoint, ZIP 56601 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $293K median. It rewards specialists, not generalists.
The investment case in 56601 is robust only for operators who understand what they are buying. A $293K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 56601's metrics run below Beltrami County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 56601 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 56601 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Bemidji:
Property Strategy for 56601
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $237,822 | $890 | 2.7% | +7.6% | $237,822 |
| 2BR | $245,593 | $1,150 | 3.4% | +7.9% | $122,797 |
| 3BR | $283,806 | $1,390 | 3.5% | +7.8% | $94,602 |
| 4BR | $333,894 | $1,750 | 3.8% | +7.8% | $83,473 |
| 5BR | $355,517 | — | — | +7.4% | $71,103 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 56601 Compare?
| Metric | 56601 | Bemidji | Bemidji, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $292,668 | $292,668 | N/A | $340,597 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 4.9% |
| Avg Rent | $1,357 | $1,357 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
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 56601 (Bemidji, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $292,668 |
| Monthly Rent | $1,357 |
| Price-to-Rent | 18.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | +23.7% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). 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 56601
Population: 34,700
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
🎓 Schools in 56601
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,101 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much rent can I charge in Bemidji, MN?
Rents in Bemidji, MN run near $1,357/mo. Compared with median home prices of $293K that produces solid gross yields for typical rentals.
What is the typical renter like in Bemidji, MN?
Bemidji, MN offers a even-keeled renter base at the $1,357/mo rent level. Tenant turnover is reasonable for well-managed properties.
How high is vacancy risk in Bemidji, MN?
Vacancy risk in Bemidji, MN is elevated. That supports reliable cash flow for typical rental holds.
What approach is best for Bemidji, MN real estate?
The best-fit strategy in Bemidji, MN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the investability score for Bemidji, MN?
Yes - Bemidji, MN a 3.0/5 investability score. With $293K home prices against $1,357/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 56601 now. You don’t know where it ranks.
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How 56601 ranks in Bemidji, MN
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