Location: Walsh County, ND | Metro: Nelson 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)
The Federal Housing Administration (FHA) Fair Market Rent (FMR) for ZIP code 58321 in fiscal year 2026 is set at $870. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount the government will pay landlords on behalf of eligible tenants. It does not dictate the rent you can charge, but it caps the subsidy portion.
To put this into perspective, the local median rent for ZIP 58321 is currently listed as N/A. However, given that renters make up 29.5% of the population in this area, there is a significant demand for rental properties. This high percentage suggests that many residents rely on renting, creating a steady pool of potential tenants who might use Section 8 vouchers.
When acquiring a property for a Section 8 rental, the cost of the property is also crucial. The average acquisition cost in ZIP 58321 is listed as N/A, which implies that the market is either stable or lacks sufficient data points to establish an average. Regardless, the acquisition cost should be considered alongside the $870 FMR to ensure that the investment remains profitable.
A key factor to consider before deciding to participate in Section 8 is the condition of the property. The housing must meet the Housing Quality Standards (HQS), which are a set of minimum requirements that all units participating in the program must satisfy. This includes ensuring that the unit is safe, decent, and sanitary. Before committing to a Section 8 rental, verify that your property meets these standards to avoid potential issues with approval.
In summary, the $870 FMR for ZIP 58321 indicates the government's willingness to pay up to this amount per month towards a tenant's rent. With 29.5% of the local population being renters, the demand for affordable housing is evident. Ensure your property meets the HQS to guarantee eligibility and avoid complications.
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.