Location: Barnes County, ND | Metro: Barnes County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 58065 stands as a unique market within the broader context of real estate dynamics. With a Fair Market Rent (FMR) set at $990 for the fiscal year 2026, this figure represents the rental cost benchmark established by HUD for the area, indicating the minimum acceptable rent for federally subsidized housing units. However, the absence of current market rent data suggests that either there is limited recent activity or the market is relatively stable, not experiencing significant fluctuations.
The lack of percentage data on price-cut share and days on market (DOM) points to a scarcity of distressed properties or a balanced market where neither buyers nor sellers are compelled to significantly adjust their prices based on market conditions. This inference is further supported by the absence of a median home value, which could imply that the housing stock is diverse or that there is insufficient data to establish a meaningful median.
A standout feature of ZIP 58065 is its reported 0.0% renter share, an unusual statistic that underscores the prevalence of homeownership over renting. This characteristic can be interpreted as a sign of low long-term housing pressure, suggesting that residents prefer to own rather than rent their homes. Such a high rate of homeownership might indicate a strong sense of community stability and investment, where property ownership is a priority and renting is less common.
In contrast to markets where supply outpaces demand, leading to increased competition among landlords and potentially lower rents, ZIP 58065 appears to have a different dynamic. The emphasis on homeownership suggests that demand for rental properties is low, which could mean that landlords and small-portfolio investors might find fewer opportunities compared to areas with higher renter shares. This does not necessarily indicate a negative outlook for the market but highlights the importance of understanding local preferences and trends when investing.
The overall picture of ZIP 58065 paints a market where homeownership is dominant, and the rental sector is underdeveloped. This market condition implies that any investment strategy should focus on aligning with the local preference for owning property, possibly through the acquisition of single-family homes or multi-family units that can cater to owner-occupiers or those looking to purchase multiple units for future resale or conversion into owner-occupied homes.
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.