Location: Walsh County, ND | Metro: Pembina County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 58243 in metro FY 2026 is set at $1,170. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing program. It's important to note that this is not the amount you can charge as rent; it's the maximum amount HUD will pay on behalf of eligible tenants.
In comparison, the average rent in ZIP 58243 based on recent Census American Community Survey (ACS) data is $930. This means that the FMR is higher than the typical market rate, which can be beneficial if you're looking to participate in the Section 8 program. Landlords receive a subsidy that covers the difference between the tenant's contribution and the FMR, up to $1,170.
The renter share in ZIP 58243 is 5.4%, indicating that a significant portion of the population relies on rental housing. This suggests a steady demand for rental properties, particularly those that might qualify for assistance programs like Section 8. The high FMR compared to the local average also points to a potential opportunity for landlords to secure a stable income stream.
However, it's crucial to understand that the acquisition cost for properties in this area is currently listed as N/A, which means there isn't enough data to provide an accurate estimate of property values. This could make it challenging to determine the profitability of your investment without further research into the local real estate market.
Before proceeding with a Section 8 rental, you must verify that your property meets all the required quality standards as defined by HUD. These standards ensure that the living conditions are safe and decent for tenants. Failure to meet these criteria can result in penalties or disqualification from the program, so it's essential to confirm compliance to avoid any issues.
Participating in the Section 8 program can be a lucrative option for landlords in ZIP 58243, given the discrepancy between the FMR and the local average rent. However, due diligence in assessing property condition and understanding the local real estate landscape remains critical.
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.