Location: Steele County, ND | Metro: Grand Forks, ND-MN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 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 58212 stands out due to its small resident population of only 312 individuals, which is significantly lower than most other ZIP codes. This unique characteristic is further emphasized by the fact that 30.1% of the residents are renters, indicating a notable demand for rental properties despite the limited size of the community. The median income in this area is $60,972, providing insight into the economic status of the residents. However, the lack of data on median home values suggests either a very low number of homeowners or an absence of recent housing sales.
Turning to the voucher economics, the Fair Market Rent (FMR) for ZIP 58212 in fiscal year 2024 is set at $910. This figure is critical for landlords and small-portfolio investors as it represents the maximum amount that can be charged to tenants participating in the Section 8 program. Unfortunately, there is no available data on the market rent for this ZIP code, making direct comparisons challenging. Nonetheless, the FMR provides a benchmark for rental pricing and can help guide decisions regarding property investments and tenant selection.
The data signature for ZIP 58212 reads as transitional. With a small population and a significant portion of renters, the dynamics of the local housing market could change rapidly based on external factors such as employment opportunities, infrastructure developments, or changes in the broader economy. Landlords and investors should monitor these factors closely to adapt their strategies accordingly.
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.