Location: Walsh County, ND | Metro: Walsh County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 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 58273 presents several challenges for landlords considering Section 8 investments. Firstly, the tenant turnover rate is concerning due to the discrepancy between the market rent and the Fair Market Rent (FMR) set at $1,030 for fiscal year 2026, which is based on metro area standards. This could lead to difficulties in attracting tenants willing to pay the higher market rent, thereby increasing the reliance on Section 8 vouchers.
Vacancy exposure is another significant risk factor. The average days on market (DOM) for properties in this area is not available, which makes it difficult to predict how long a property might remain vacant. A prolonged vacancy period can severely impact cash flow and profitability.
Deferred maintenance is also a critical issue. With a median household income of $52,500, residents may struggle to afford necessary repairs and improvements, leading to potential property degradation over time. This can be particularly problematic for landlords who are not prepared to invest additional capital into maintaining their rental properties.
However, these risks must be weighed against the high concentration of renters in the area, represented by a 10.0% renter share. High renter density typically translates into greater demand for housing assistance programs such as Section 8, which can stabilize occupancy rates and provide a steady stream of rental income.
In summary, despite the uncertainties regarding market rent and vacancy periods, along with the need for ongoing maintenance, the strong presence of renters in ZIP 58273 suggests a robust demand for subsidized housing. This mitigates some of the financial risks associated with Section 8 investments.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.