Location: Traill County, ND | Metro: Traill County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 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 ZIP code 58218 is situated in a predominantly owner-occupied neighborhood with a total population of 873 individuals. Only 11.8% of the residents are renters, indicating a low demand for rental properties. The median household income in this area is relatively high at $91,964, suggesting that most residents have stable financial situations. However, the median home value stands at $252,722, which is indicative of a modestly priced housing market.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870. In contrast, the actual market rent based on Census ACS data is lower at $684. This discrepancy between the FMR and the market rent can be beneficial for landlords participating in the Section 8 program, as it allows them to potentially earn slightly above the average market rate for rental units in this ZIP code.
Given these conditions, ZIP 58218 might be better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters suggests limited opportunities for increasing the number of rental units, while the modest median home value implies that significant improvements to existing properties may not yield substantial returns. For a landlord or small-portfolio investor, focusing on maintaining properties and ensuring compliance with Section 8 requirements would likely be more effective than trying to actively increase property values or occupancy rates.
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.