Section 8 Fair Market Rent (FMR) for ZIP 58206 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 58206, located in Unknown, North Dakota, is a rural area that offers unique opportunities for real estate investment, particularly in the context of the Housing Choice Voucher program, commonly known as Section 8. This area's market dynamics are influenced by the federal guidelines and local economic conditions.

• The Fair Market Rent (FMR) for ZIP 58206 in fiscal year 2024 is set at $950 per month for a standard one-bedroom unit, according to HUD data.
• The market rent for the area is currently unavailable, indicating a lack of recent data on what tenants might pay outside of the Section 8 program.
• The median home value in ZIP 58206 is also not available, suggesting limited residential property transactions or a small number of homes listed for sale.
• The percentage of residents who are renters is unknown, making it difficult to assess the demand for rental properties in the area.
• The Days on Market (DOM) figure is not available, which typically indicates the speed at which properties are sold or rented out. The absence of this data suggests either a slow-moving market or a lack of recent sales activity.
• The median household income for ZIP 58206 is not available, which would be crucial for understanding the financial capacity of potential tenants and their ability to contribute to the rent beyond the voucher amount.

Given the available data, landlords and small-portfolio investors should focus on the stability offered by the Section 8 program, with the FMR serving as a benchmark for rental pricing. However, the lack of specific data points such as market rent, median home values, and median income highlights the challenges in assessing the broader market health and tenant demand in ZIP 58206. Investors should proceed with caution, relying on the federal guidelines while being aware of the limited insights into the local economic environment and housing trends.

Data Sources: FMR data from HUD (2027).

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.