Location: Towner County, ND | Metro: Rolette County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 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 potential pitfalls of investing in Section 8 properties in ZIP code 58367 are significant. Firstly, the disparity between the market rent of $620 and the Fair Market Rent (FMR) of $890 for fiscal year 2026 highlights a substantial risk of tenant turnover. Landlords may struggle to attract tenants willing to pay the higher FMR rate, leading to frequent vacancies and increased management costs.
Vacancy exposure is another concern, as the average days on market (DOM) for rental properties in this area is not available. This lack of data makes it difficult to predict how long a property might remain vacant, thus impacting cash flow and profitability. Furthermore, the absence of typical home values and the median income of $63,750 suggest that there may be deferred maintenance issues, which can be costly to address and could affect the property's ability to meet Section 8 standards.
However, these risks must be weighed against the high renter share of 41.1%, indicating a dense population of renters who may have a higher demand for housing vouchers. This demand can translate into a stable stream of Section 8 tenants, reducing the likelihood of prolonged vacancies.
In conclusion, despite the challenges, the high renter density in ZIP 58367 provides a buffer against some of the inherent risks of Section 8 investments. The verdict is moderate risk for a first-time Section 8 landlord.
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.