Location: Walsh County, ND | Metro: Cavalier County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The ZIP code 58229 is located in a rural setting within North Dakota, specifically encompassing parts of the city of Williston and surrounding areas. This neighborhood is predominantly residential, with a small population of 97 individuals. Notably, there are no reported renters within this ZIP code, indicating a community where homeownership is the primary form of residence. The median household income in ZIP 58229 is relatively low at $29,357, which places it below the national average and suggests a community with limited economic resources.
Despite the lack of data on median home values and market rents, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 has been established at $920. This figure serves as a benchmark for rental pricing in the area, particularly for those who might be considering Section 8 housing opportunities. Given the absence of reported renters, the FMR provides insight into potential rental rates that could attract tenants eligible for the Section 8 program.
When evaluating ZIP 58229 for investment purposes, it becomes evident that this area is better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The low population and lack of rental activity suggest a need for active management and possibly renovations to make properties attractive to Section 8 tenants. A hands-off approach would likely result in low occupancy rates due to the limited demand for rental properties in this area. Therefore, an investor looking to capitalize on the potential of this ZIP code should be prepared to engage actively in property management and enhancement to achieve success.
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.