Location: Walsh County, ND | Metro: Cavalier County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The market in ZIP code 58330 presents a dynamic scenario that reflects the balance between supply and demand. With a Fair Market Rent (FMR) set at $990 for the fiscal year 2026, landlords can anticipate a steady income stream from tenants seeking affordable housing options. The current market rent, reported at $850 according to the Census ACS, indicates a lower actual rental rate compared to the FMR, suggesting a competitive environment where landlords might need to offer incentives to attract tenants.
The lack of specific data on price-cut share and days on market (DOM) prevents a detailed analysis of recent market adjustments. However, the absence of significant price reductions and short DOM periods typically suggest a stable market where properties are rented without substantial concessions. This implies that the local rental market is likely functioning well, with a reasonable equilibrium between the number of available units and the demand for them.
A key indicator of long-term housing pressure in ZIP 58330 is the 37.3% share of renters. This figure suggests a sizeable portion of the population relies on rental housing, which can exert ongoing pressure on the availability and pricing of rental units. For small-portfolio investors, this means there is a consistent demand for rental properties, but it also underscores the importance of maintaining competitive rental rates and property conditions to secure tenants.
In summary, ZIP 58330 appears to be a market where the demand for rental housing is substantial, driven by the significant renter share. Landlords should remain vigilant regarding rental rates and market conditions to ensure their properties are attractive to potential tenants. While the exact trajectory of the market cannot be determined from the static data points provided, the current snapshot paints a picture of a balanced yet competitive rental 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.