Location: Pembina County, ND | Metro: Pembina County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
The ZIP code 58241 is located in a rural setting, predominantly characterized by its small-town charm and tight-knit community. With a total population of just 137, it's clear that this area is far from the bustling city life. The demographic makeup shows that 42.2% of the residents are renters, indicating a modest demand for rental properties.
Economically, the median household income in this region stands at $54,091, which reflects a middle-class community. However, due to the sparse population, the median home value is not available, suggesting limited residential development or a focus on other types of property.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area, as of fiscal year 2026, is set at $1,120. In contrast, the actual market rent, according to the Census Bureau's American Community Survey, is significantly higher at $1,661. This discrepancy highlights an opportunity for landlords and small-portfolio investors who can offer affordable housing under the Section 8 program while still achieving a reasonable profit margin above the FMR.
Given these factors, ZIP 58241 is more suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low population density and the existing high market rents make it challenging for active property management strategies aimed at increasing property value through improvements. Instead, leveraging the Section 8 program to fill vacancies and ensure steady cash flow is a practical approach in this setting.
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.