Location: Walsh County, ND | Metro: Ramsey County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 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 Fair Market Rent (FMR) for ZIP code 58345, which is set at $870 for the metro area fiscal year 2026, represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. This amount is what the government will pay towards the rent on behalf of the tenant, but it does not necessarily mean your property's rent should be exactly $870.
In ZIP 58345, the local market rent is currently listed as N/A, which suggests there is limited data available to compare against the FMR. However, the 0.0% renter share indicates that very few properties in this area are rented out, signaling low demand for rentals overall. Despite this, the Section 8 program can provide a steady stream of income for those willing to participate.
Regarding acquisition costs, the data also shows N/A, which means there isn't enough information to determine the average price of acquiring rental properties in this ZIP code. However, this lack of data could imply that property values might be stable or less volatile compared to areas with high turnover rates.
To ensure you're making a sound investment decision, verify that your property meets the minimum housing quality standards set by HUD (Department of Housing and Urban Development) before proceeding. These standards are essential to qualify for the program and avoid any potential issues down the line.
Participating in Section 8 in ZIP 58345 could be a strategic move if you're looking for a stable tenant base and guaranteed rental income. The $870 payment standard ensures that you receive a consistent amount each month, regardless of the local rental market conditions.
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.