Location: Benson County, ND | Metro: Benson County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 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 ZIP code 58335 stands out due to its unique demographic and economic characteristics. With only 1,177 residents, it has a notably small population compared to many other ZIP codes. However, 41.4% of these residents rent their homes, indicating a significant portion of the housing market is dedicated to rental properties. Despite the lack of specific data regarding median income and median home value, the disparity between the Fair Market Rent (FMR) and the actual market rent provides insight into the dynamics of this area.
The FMR for ZIP 58335 is set at $870 for fiscal year 2026, which is significantly higher than the current market rent of $349 as reported by the Census ACS. This substantial gap suggests that landlords and small-portfolio investors could potentially see an increase in rental income if they participate in the Section 8 program. The voucher economics favor those willing to accept Section 8 tenants, as the government subsidy brings the total rent closer to the FMR rather than the lower market rate. Landlords should be aware that while the subsidy can cover a large portion of the rent, it might not fully bridge the gap to the FMR due to administrative constraints and eligibility criteria.
Evaluating the overall data signature, ZIP 58335 appears to be in a transitional phase. The absence of median income and home value data indicates either a lack of comprehensive statistical sampling or a rapidly changing economic landscape that makes stable figures difficult to establish. Given the high proportion of renters and the significant difference between FMR and market rent, it is likely that this ZIP code is experiencing shifts in its housing market, possibly driven by changes in local employment opportunities or infrastructure development. Landlords and investors should monitor these trends closely to make informed decisions about their property investments.
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.