Location: Benson County, ND | Metro: Benson County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 58357, located in Benson County, ND, reveals several key insights for landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $900. However, without specific market rent data available, it's challenging to make a direct comparison. This suggests that landlords should carefully consider local conditions and possibly conduct further research to ensure their rental pricing aligns with what the market can bear.
Moving on to acquisition affordability, the lack of detailed data on median home values, days on market (DOM), and the percentage of homes requiring price cuts means that this aspect of the analysis is incomplete. Landlords looking to acquire properties in ZIP 58357 will need to gather additional information to determine if the cost of entry is reasonable and if they can expect a timely sale or purchase.
Tenant demand is a critical factor for any landlord. With a population of 440 residents and 19.8% of them being renters, there is a modest but present demand for rental properties. This indicates that while the pool of potential tenants is not large, there is still a segment of the population actively seeking rental housing, which could support a small portfolio of rental units.
Verdict: ZIP 58357 presents an opportunity for landlords who are willing to conduct thorough local market research. The FMR of $900 provides a benchmark for rental pricing, but market-specific data is necessary to validate this figure. Acquisition costs remain unclear due to the absence of detailed data on home values and sales trends. Nonetheless, the 19.8% renter share suggests that there is a stable, albeit limited, demand for rental properties, making it feasible for small-scale investors to find success. However, these investors must be prepared to invest time in understanding the local market dynamics fully.
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.