Location: Ramsey County, ND | Metro: Benson County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $850 |
| 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 |
U.S. Census Bureau data (2024)
59,515 landlords in ZIP 58301 should note that the median income is relatively low, which impacts the demand for affordable rental properties. 48.5% of the population here are renters, indicating a strong market for rental properties. 236,922 is the median home value, suggesting that property values are moderate and could be attractive for investment. However, the lack of data on days on market (N/A) and the very low price-cut share (0.1%) indicate that the market is stable and that properties are likely selling at their listed prices without significant reductions. 712 is the average market rent based on Census ACS data, which is below the Fair Market Rent (FMR) of 870 set for the metro area in fiscal year 2026. This discrepancy means that there is room for price increases, but it also suggests that tenants may struggle to afford rents at the FMR level.
The combination of these factors—moderate property values, a high renter share, and stable market conditions—creates an environment where Section 8 housing can be particularly beneficial. Landlords can secure a steady stream of income through the Section 8 program, knowing that the government will cover the rent, even if it's below the market rate. The program guarantees occupancy and provides a reliable payment schedule, which can be advantageous given the lower median income levels in the area.
Investors should also consider that while the median income is 59,515, the market rent is 712, implying that many residents rely on assistance programs such as Section 8 to afford housing. This reliance on government subsidies could mean a consistent pool of potential tenants who qualify for the Section 8 program, ensuring that properties remain occupied and generating a predictable revenue stream.
In conclusion, 870 being the FMR for the metro area in fiscal year 2026, and with 712 being the actual market rent, ZIP 58301 presents a favorable opportunity for landlords and small-portfolio investors interested in Section 8 properties. The verdict: Section 8 is a viable option for maintaining occupancy and securing stable income in this ZIP code.
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.