Location: Wells 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 Section 8 housing market in ZIP code 58348, located in Wells County, ND, presents an interesting investment opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) as determined by HUD for the Wells County metro area in fiscal year 2026 is set at $870. This figure represents the maximum amount that a voucher tenant can pay for rent under the Section 8 program.
In contrast, the Census American Community Survey (ACS) reports the average market rent for ZIP 58348 to be $538. Given these figures, it's clear that voucher tenants will cashflow at the FMR level. Landlords accepting Section 8 vouchers can expect to receive a higher rent payment compared to the typical market rate, leading to positive cash flow without requiring premium units.
The median home value in ZIP 58348 is not available, which means we cannot directly calculate a rent-to-price ratio. However, the absence of a median home value suggests that the area may have limited homeownership opportunities, making rental properties more attractive to potential residents. This could contribute to strong demand for rental units, including those available through Section 8.
While the median days on market (DOM) and the percentage of price cuts are not available, these metrics typically influence the rent-versus-buy decision. In ZIP 58348, the lack of data on home values and sales dynamics indicates that renting is likely the dominant form of housing, further supporting the attractiveness of rental investments.
The strongest investor angle in ZIP 58348 is cashflow. With HUD's FMR significantly exceeding the local market rent, landlords who accept Section 8 vouchers can enjoy a steady, reliable source of income with minimal risk of vacancy. This makes the area particularly appealing for investors focused on generating consistent rental income.
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.