Section 8 Fair Market Rent (FMR) for ZIP 58267 - 2027

Location: Steele County, ND | Metro: Grand Forks, ND-MN MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$820
1 Bedroom	$820
2 Bedrooms	$1,010
3 Bedrooms	$1,410
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,569

Median Household Income

$88,015

Housing Units

619

Renter Percentage

25.5%

Occupancy Rate

90.0%

Renter Occupied

142

The ZIP code 58267, located in North Dakota, is a region characterized by its rural setting and reliance on agricultural and energy sectors. This area presents a unique opportunity for real estate investment, particularly for those interested in the rental market dynamics influenced by federal housing programs.

The Fair Market Rent (FMR) for ZIP 58267 in fiscal year 2024 is set at $910, indicating the benchmark for rental costs supported by the Housing Choice Voucher program.
According to the Census American Community Survey, the average market rent in the area is $692, which is below the FMR, suggesting that landlords could potentially increase rents to align with government standards without losing tenants.
The median home value in ZIP 58267 is $225,997, reflecting the affordability of the real estate market compared to urban centers.
Renters make up 25.5% of the population, a significant portion that relies on rental properties, providing a stable demand for rental units.
The median income in the area is $88,015, which is higher than the national average, signaling a robust local economy capable of supporting higher rents.
Despite the lack of specific data on days on market (DOM), the combination of a supportive federal rental rate and a strong local economy suggests that rental properties in this ZIP code would likely attract tenants quickly.

In summary, the ZIP 58267 real estate market offers a favorable environment for landlords and small-portfolio investors. With a substantial portion of the population renting and a median income exceeding the national average, there is a solid foundation for rental demand. The gap between the market rent and the FMR provides an opportunity for landlords to adjust their pricing strategies upward, ensuring profitability while remaining within the bounds of federal support. The relatively low median home value also indicates a good entry point for purchasing investment properties, making it an attractive area for those looking to enter the real estate market.

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.