Location: Traill County, 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 rent math in ZIP code 58048 does not favor landlords. The Fair Market Rent (FMR) set at $910 for the fiscal year 2024 is higher than the actual market rent of $708, as reported by the Census Bureau's American Community Survey. This discrepancy means that landlords might struggle to find tenants willing to pay the higher FMR rate.
Acquisition in this area is relatively affordable, with a median home value of $195,209. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts indicates that the local real estate market may be less active or stable compared to other areas. This could affect the liquidity and resale value of properties in the long term.
Tenant demand is limited in ZIP 58048, which has a total population of 505, with only 12.9% being renters. This low percentage suggests that there is not a robust pool of potential tenants, which could make it challenging to fill vacancies quickly or maintain consistent occupancy rates.
Based on the analysis, investing in ZIP 58048 as a landlord or small-portfolio investor is not advisable. The mismatch between the FMR and the actual market rent makes it difficult to justify the rental prices set by HUD. Additionally, the low renter share and limited population indicate a weak tenant demand. While the median home value suggests an affordable entry point, the overall conditions do not support a positive return on investment for rental properties.
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.