Section 8 Fair Market Rent (FMR) for ZIP 58035 - 2027

Location: Traill County, ND | Metro: Fargo, ND-MN MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$810
2 Bedrooms	$1,010
3 Bedrooms	$1,390
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

212

Median Household Income

$131,471

Housing Units

147

Renter Percentage

3.1%

Occupancy Rate

65.3%

Renter Occupied

ZIP code 58035, located within Traill County, ND, presents a unique profile when compared to other ZIP codes in the same county. The Fair Market Rent (FMR) for 58035 is set at $910 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors operating under the Section 8 program, as it defines the maximum allowable rental rates for subsidized housing.

The lack of data on market rent and home values for ZIP 58035 makes direct comparisons to other areas within Traill County challenging. However, the 3.1% renter share indicates that a relatively small portion of the population in this ZIP code relies on renting as their primary form of housing. This low percentage can suggest several things about the local real estate market:

Potential Value Pocket: Given the absence of higher market rent and home value data, ZIP 58035 could be considered a value pocket within the Traill County, ND metro. Landlords and investors might find opportunities here where rents are stable and possibly lower than surrounding areas, making it easier to maintain profitability under the Section 8 program without having to compete against higher market rates.
Mid-Tier Neighborhood Potential: While the renter share is low, the FMR is established, which means there is a defined subsidy level for those who do rent. This suggests that while not a premium sub-market, 58035 has a niche for Section 8 participants, offering a balanced environment that may appeal to a mix of renters and homeowners.

The combination of a stable FMR and a low renter share could indicate a smaller demand for rental properties relative to other ZIP codes in Traill County. However, the presence of a defined FMR and the potential for lower competition in the rental market make 58035 an interesting area for Section 8-focused real estate investments. Investors should consider the broader economic context of the county and the specific needs of the community to fully leverage this ZIP code's characteristics.

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.