Section 8 Fair Market Rent (FMR) for ZIP 58346 - 2027

Location: Towner County, ND | Metro: Benson County, ND

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

606

Median Household Income

$85,469

Housing Units

319

Renter Percentage

26.8%

Occupancy Rate

79.6%

Renter Occupied

The ZIP code 58346, located in the heart of rural North Dakota, offers a unique opportunity for real estate investors interested in the Section 8 housing market. This area is characterized by a mix of agricultural and small-town living, which influences both rental demand and property values.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870, providing a benchmark for rental rates that can be expected from Section 8 tenants.
The actual market rent, as per the latest Census American Community Survey (ACS), stands at $544, indicating a significant gap between market rates and what Section 8 covers, which could benefit landlords who qualify for these subsidies.
The median home value in ZIP 58346 is $157,556, suggesting that properties are affordable and likely to appeal to a wide range of buyers and renters.
Renters make up 26.8% of the population, showing a moderate demand for rental properties but also highlighting the potential for growth in this sector.
The median income of residents is $85,469, which is above the national average, making it a financially stable community for investment purposes.

Synthesizing these points, ZIP 58346 presents a balanced market for real estate investment, particularly for those looking to participate in the Section 8 program. The discrepancy between the Fair Market Rent and the actual market rent suggests a favorable environment for landlords seeking to maximize their returns while still offering affordable housing options. Additionally, the moderate renter share combined with a high median income indicates a robust local economy capable of supporting various types of real estate ventures. For small-portfolio investors, focusing on properties that align with the Section 8 criteria can lead to steady, predictable cash flows without the risks associated with fluctuating market rents.

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.