Location: Benson 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)
In ZIP code 58370, there are several factors that could pose challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, especially when comparing the market rent of $655 to the Federal Market Rent (FMR) of $900 for the fiscal year 2026 in the metropolitan area. The disparity between these two figures suggests that tenants might seek higher-value housing, leading to frequent moves and higher vacancy rates.
Vacancy exposure is another critical issue. With no available data on the days on market (DOM), it's difficult to predict how long a unit might remain vacant. This uncertainty can be costly for landlords, who must manage the property without rental income during these periods.
The deferred maintenance exposure is also notable. Given the median income of $43,750, residents may struggle to afford necessary repairs or improvements, which could fall on the landlord if they own the properties where vouchers are used. This financial burden can impact the overall profitability of the investment.
However, these risks must be weighed against the high concentration of renters in the area, with a 24.1% renter share. High renter density typically indicates a robust demand for housing vouchers, which can stabilize cash flow and reduce the risk of prolonged vacancies.
A strong presence of renters often correlates with a higher likelihood of finding tenants who are willing and able to use Section 8 vouchers, thus mitigating some of the risks associated with lower market rents. Despite the challenges, the high renter share provides a solid foundation for attracting consistent tenants through the voucher program.
Verdict: 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.