Location: Cavalier County, ND | Metro: Cavalier County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 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 58239 is located in a predominantly owner-occupied area, with only 17.4% of residents being renters. The population of the area stands at 58, indicating a small community setting. The median household income in this ZIP code is quite high, at $146,125, suggesting that it is an affluent region. Despite the lack of specific data on median home values, the high income levels imply that homes in this area are likely to be valuable.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870. However, there is no available data on the actual market rent in ZIP 58239, which leaves a gap in understanding how competitive the FMR is against local market rates. This absence of direct comparison makes it challenging to gauge the attractiveness of rental properties in this area strictly based on financial metrics alone.
Given the characteristics of ZIP 58239, it appears to be more suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters and the high median income suggest that residents are financially capable of finding alternative housing without relying heavily on Section 8 vouchers. Therefore, landlords or small-portfolio investors should focus on maintaining properties that meet the requirements for voucher tenants, rather than actively seeking to improve or add value to their properties beyond compliance standards. The limited number of renters also means that demand for subsidized housing may be lower, making it important for operators to ensure that their units are desirable to those who do qualify for assistance.
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.