Location: Benson County, ND | Metro: Benson County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,020 |
| 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)
ZIP code 58343, located within the Benson County, ND metro, presents a unique profile compared to typical ZIP codes in the area. The Fair Market Rent (FMR) for ZIP 58343 is set at $870 for fiscal year 2026. This figure is crucial for landlords and investors interested in Section 8 housing, as it defines the maximum rental amount that can be charged under the program.
The lack of data on market rent and home values suggests that ZIP 58343 might not have sufficient real estate activity to generate reliable averages. However, the 0.0% renter share indicates an extremely low proportion of residents who rent their homes, which contrasts sharply with what would typically be expected in a more densely populated area. This could imply that homeownership is heavily favored in the region, possibly due to lower population density or other local economic factors.
In terms of being a value pocket, a mid-tier neighborhood, or a premium sub-market, ZIP 58343's characteristics lean towards being a value pocket. The relatively low FMR of $870, combined with the absence of market rent data and the low renter share, suggests that the area may offer more affordable options for those seeking rental properties. For investors, this means that while there might be fewer tenants overall, the potential for attracting Section 8 participants is present given the established FMR.
It's important to note that the high concentration of homeowners with minimal rental activity does not necessarily indicate a Section 8 sweet spot. A sweet spot typically involves a higher renter share coupled with below-average home values, which would suggest that renters, including those on Section 8, are a significant portion of the market. In ZIP 58343, the absence of a substantial renter base limits this potential.
Landlords and investors should consider the broader context of Benson County, ND, including the availability of Section 8 vouchers and the overall demand for rental housing. While ZIP 58343 may not be a prime location for rental investments based on the current data, it still offers opportunities for those looking to enter the Section 8 market at a more affordable price point.
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.