Updated 2026 · Based on median market data for Bemidji, MN
The median monthly rent in Bemidji, MN is $1,420, translating to $17,040 in annual gross rental income per unit. The rent-to-price ratio is 0.56% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Bemidji spend approximately 28% of the local median household income ($60,800) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.
The vacancy rate in Bemidji is 4.8%. This is extremely tight — expect strong tenant demand, quick lease-ups, and leverage to set favorable lease terms. In markets this tight, landlords often see multiple applications per listing. Population growth of 0.5% annually provides stable demand.
Bemidji's GRM (price divided by annual rent) is 15.0x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,420/mo, a single-family rental in Bemidji generates approximately $17,040 in gross annual income. After accounting for 4.8% vacancy ($818 lost), property taxes of $2,856, insurance (~$1,020), and maintenance (~$1,020), the estimated NOI is $11,326 per year, or $944/mo.
Bemidji vs Minnesota state average and national average across key investment metrics. Bemidji outperforms both benchmarks on cap rate.