Section 8 Fair Market Rent (FMR) for ZIP 58220 - 2027

Location: Pembina County, ND | Metro: Pembina County, ND

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,010
1 Bedroom	$1,040
2 Bedrooms	$1,150
3 Bedrooms	$1,590
4 Bedrooms	$1,920
5 Bedrooms	$2,227
6 Bedrooms	$2,494
7 Bedrooms	$2,694
8 Bedrooms	$2,829

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,268

Median Household Income

$61,199

Housing Units

1,169

Renter Percentage

35.5%

Occupancy Rate

88.0%

Renter Occupied

365

The ZIP code 58220, located in North Dakota, represents a region with significant opportunities for real estate investment, particularly in rental properties. This area benefits from a stable economy and a growing demand for affordable housing, making it an attractive location for landlords and small-portfolio investors looking to capitalize on the housing market trends.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000, indicating a strong potential for rental income growth.
The current market rent, as per the Census American Community Survey, stands at $801, suggesting that there is room for price increases to align with the FMR targets.
The median home value in ZIP 58220 is $160,491, which is relatively low compared to other regions in the state, providing an opportunity for purchasing properties at a lower cost.
Renters make up 35.5% of the population, showing a substantial portion of the community relies on rental properties, thus increasing the demand for such units.
The median income in the area is $61,199, which is sufficient to support the current market rents but may limit the ability to significantly increase rents without affecting occupancy rates.
While the exact days on market (DOM) figure is not available, the combination of low home values and a decent renter share suggests that rental properties can be filled relatively quickly once they are listed.

Investors should note that the gap between the current market rent and the projected FMR indicates a potential for rental income growth. However, the median income level suggests a cautious approach to pricing increases. The low median home value presents an opportunity for acquiring properties at a lower initial investment, while the significant renter share ensures a steady demand for rental units. Overall, ZIP 58220 offers a balanced environment for real estate investments, especially in rental properties, with potential for growth and stability.

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.