Location: Cavalier County, ND | Metro: Cavalier County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 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 program in ZIP code 58355 offers a unique opportunity for landlords and small-portfolio investors looking to enter the assisted housing market. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $870. This figure represents the payment standard, which is the amount the government will pay towards a tenant's rent. It is important to note that this is not the total rent you can charge your tenant.
In ZIP 58355, the local median rent is listed as N/A, indicating that there isn't sufficient data to provide an accurate comparison against the FMR. However, the 0.0% renter share suggests that the demand for rentals in this area is very low. This means that while the government guarantees a portion of the rent, finding tenants who qualify for the program and are willing to live in this ZIP code might be challenging.
The acquisition cost for properties in this area is also listed as N/A, making it difficult to assess the typical investment required to purchase a rental property here. Given the low demand for rentals, it would be wise to investigate further into the specific property you are considering to ensure its value aligns with potential returns.
Before committing to a Section 8 rental in ZIP 58355, you must verify the property meets all Housing Quality Standards (HQS). These standards ensure the unit is safe and habitable for tenants. While the process can be rigorous, it is essential for compliance and receiving timely payments from the housing authority.
In summary, while the Section 8 program guarantees a $870 payment standard for fiscal year 2026, the lack of local rental data and low demand for rentals in ZIP 58355 presents challenges. Carefully assessing the property's HQS compliance is crucial before proceeding with this investment.
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.