Section 8 Fair Market Rent (FMR) for ZIP 58259 - 2027

Location: Walsh County, ND | Metro: Nelson County, ND

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,230
1 Bedroom	$1,240
2 Bedrooms	$1,520
3 Bedrooms	$2,100
4 Bedrooms	$2,540
5 Bedrooms	$2,946
6 Bedrooms	$3,300
7 Bedrooms	$3,564
8 Bedrooms	$3,742

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

393

Median Household Income

$55,000

Housing Units

282

Renter Percentage

23.4%

Occupancy Rate

78.7%

Renter Occupied

ZIP code 58259, located in the heart of rural America, offers a stable and predictable rental market for landlords and small-portfolio investors. The area's reliance on agriculture and local businesses contributes to a steady tenant base, making it an attractive location for those seeking consistent returns.

The Fair Market Rent (FMR) for ZIP 58259 in fiscal year 2026 is set at $1,310, providing a benchmark for rental pricing.
The actual market rent, based on Census American Community Survey (ACS) data, stands at $1,000, indicating a realistic price point that tenants are currently paying.
Roughly 23.4% of residents in the area are renters, suggesting a significant but not overwhelming proportion of the population relies on rental properties.
The median income for households in ZIP 58259 is $55,000, which supports the current rental rates without placing undue financial strain on tenants.
Note that the median home value is listed as N/A, likely due to limited data availability or a predominantly rental-focused market.
Average days on market (DOM) is also listed as N/A, possibly because sales data is sparse or the market is primarily rental-based.

For investors looking to enter the ZIP 58259 market, the data suggests a solid opportunity for rental income. With a fair market rent of $1,310 and actual market rents at $1,000, there is potential for modest appreciation in rental prices. A 23.4% renter share points to a stable demand for rental units, while the median income figure of $55,000 indicates that tenants can afford current rents without significant risk. The lack of median home value and DOM data underscores the rental nature of the market, making it less about flipping homes and more about generating steady cash flow through long-term leases.

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.