Location: Pembina County, ND | Metro: Pembina County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 58238, located in Pembina County, North Dakota, reveals several key points that are crucial for landlords and small-portfolio investors.
Firstly, regarding the rent math, the Family Monthly Rent (FMR) for the metro area in fiscal year 2026 is set at $960. However, the lack of specific market rent data for this ZIP code makes it difficult to directly compare and assess whether the rent math works. Without a benchmark for market rents, it's impossible to determine if $960 aligns with what tenants are willing to pay.
Secondly, the acquisition affordability in ZIP 58238 cannot be conclusively evaluated due to the absence of critical data such as the median home value, days on market (DOM), and the percentage of homes requiring price cuts. These metrics would typically provide insight into the local housing market dynamics and the ease of acquiring rental properties.
Lastly, concerning tenant demand, the ZIP code has a total population of 114, with a renter share of 0.0%. This indicates an extremely low demand for rental properties, as virtually no residents are renters. The scarcity of potential tenants poses a significant challenge for those looking to invest in rental properties within this ZIP code.
In conclusion, while the FMR provides a clear figure for rental income, the lack of market rent data hinders a comprehensive assessment of rent math viability. Similarly, the absence of median home value, DOM, and price-cut percentage data complicates the evaluation of acquisition affordability. Most critically, the near-zero renter share among the small population suggests that there is minimal tenant demand, making it an unattractive investment for landlords and small-portfolio investors. The combination of these factors points to a challenging environment for rental property investments in ZIP 58238.
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.