Location: Walsh County, ND | Metro: Cavalier County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 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 58227 stands out due to its relatively small population of 481 residents and a modest rental rate of 18.3%. Despite the limited data on median home values, the median income in this area is a noteworthy $78,264, indicating a stable economic foundation among its inhabitants.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $870, which contrasts sharply with the current market rent of $636, based on Census ACS data. This discrepancy suggests that landlords could potentially benefit from the higher reimbursement rates offered through the Section 8 program, especially if they are willing to improve their properties to meet the standards required for voucher holders.
The data signature for ZIP 58227 reads as predominantly stable, with a clear indication of economic health among the residents and a significant opportunity for landlords to capitalize on the gap between market rents and FMRs. However, the absence of median home value data implies a smaller housing stock or a less developed real estate market, which could make the area more susceptible to transitional changes as the market matures.
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.