Location: Fargo, ND | Metro: Fargo, ND-MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The ZIP code 58105, located within the Fargo, ND-MN Metropolitan Statistical Area (MSA), presents a unique profile when compared against typical ZIP codes in the same metro. The Fair Market Rent (FMR) for 58105 is set at $910 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors who participate in the Section 8 housing program, as it represents the maximum rent that can be charged under the program.
A key piece of information missing is the market rent and home values for 58105. However, given that the renter share in 58105 is 45.0%, which is notably higher than the average for the entire Fargo, ND-MN MSA, we can infer certain characteristics about this area. A high renter share typically indicates a strong demand for rental properties, which could be driven by various factors such as student populations, transient workers, or a lack of affordable homeownership options.
When comparing the FMR of $910 to typical ZIP codes within the Fargo MSA, it's important to note that without specific market rent data, it's challenging to definitively categorize 58105 as either a value pocket, a mid-tier neighborhood, or a premium sub-market. However, the high renter share suggests that there is a significant portion of the population relying on rentals, which might indicate that 58105 is a value pocket where affordability is a critical factor.
The absence of home value data for 58105 further supports the notion that this ZIP code might lean towards being a value pocket within the larger MSA. High renter share combined with lower home values, if they were available, would typically signal a sweet spot for Section 8 properties, as it aligns with the financial constraints of many low-income renters.
To make a more precise determination, landlords and investors should consider conducting a thorough analysis of the local real estate market, including trends in rental prices and home values, and the demographics of the area. This will provide a clearer picture of how 58105 stacks up against other ZIP codes in the Fargo, ND-MN MSA.
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.