Location: Ransom County, ND | Metro: LaMoure County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
U.S. Census Bureau data (2024)
ZIP code 58033 stands out due to its unique characteristics among rural areas. With only 393 residents, it has a low population density, which is typical for many rural ZIP codes. However, the rental rate at 16.5% is notably higher than the national average, indicating a significant portion of the local housing market is dedicated to renters. Despite the high rental rate, the median household income of $90,000 suggests that the majority of residents can afford their housing without assistance.
The median home value is listed as N/A, which often indicates a lack of sufficient data points for statistical analysis. This could be due to the low number of homeowners in the area or limited real estate transactions recorded over time.
Turning to the voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140. In contrast, the current market rent, according to Census ACS data, is just $350. This substantial difference means that landlords accepting Section 8 vouchers in ZIP 58033 can potentially receive significantly higher rents than the current market rate, making it an attractive option for property owners looking to increase their rental income.
The disparity between the FMR and the actual market rent also highlights the potential for increased demand for affordable housing in the area. Landlords who accept Section 8 vouchers can benefit from a guaranteed tenant and a higher rental rate, while providing much-needed affordable housing options for low-income families.
Based on the available data, ZIP 58033 appears to be in a transitional phase. The high rental rate coupled with a relatively high median income suggests a growing interest in rental properties, possibly driven by economic development or demographic shifts. However, the lack of data on median home values indicates that the residential market is still evolving and may require further monitoring to understand long-term trends.
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.