Location: Fargo, ND | Metro: Fargo, ND-MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 58029 reveals a unique balance between yield potential and market stability, offering insights into strategic investment opportunities for landlords and small-portfolio investors.
On the yield axis, the Fair Market Rent (FMR) for ZIP 58029 stands at $910 for fiscal year 2024. This figure suggests a moderate rental income potential, given that it represents the average rent price for the area. However, the absence of specific market rent and home value data limits a comprehensive comparison, indicating that the FMR serves as a critical benchmark for assessing rental rates.
Moving to the stability axis, the rental market in ZIP 58029 exhibits a 24.3% share of renters, which is relatively low compared to many urban areas but can still provide consistent cash flow. The median household income of $145,625 offers strong financial backing for residents, supporting their ability to pay rent on time and potentially reducing tenant turnover. The lack of data on days on market (DOM) for rentals suggests either limited availability or a tight local market where properties are leased quickly, though this requires further investigation.
Given these figures, ZIP 58029 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The combination of a moderate FMR and substantial median household income supports a stable rental environment. While the rental share is lower, the financial strength of the residents ensures reliable payments and reduces the risk of vacancy. For investors, this means focusing on long-term strategies that capitalize on consistent returns rather than short-term flips for quick profits.
To summarize, the rental market in ZIP 58029 is characterized by:
These factors collectively indicate a market suitable for steady, reliable cash flow investments.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.