Location: Towner County, ND | Metro: Cavalier County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 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 ZIP code 58372 represents a unique slice of America, primarily characterized by its low population density and high median income levels. With only 122 residents, it stands out as a sparsely populated area, likely dominated by homeowners rather than renters, given the reported 0.0% rental rate. The median household income here is notably high at $155,391, suggesting a community where most families have the financial means to own homes outright, rather than renting or relying on housing assistance programs.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for the metro area, which includes ZIP 58372, is set at $870 per month for fiscal year 2026. However, there is no available data on the actual market rent in this ZIP code, indicating either a lack of rental properties or insufficient data to determine an average. This absence of market rent figures makes it challenging to compare the FMR to typical local rents, but it does suggest that rental properties, if they exist, might be scarce and possibly overpriced due to the limited supply.
Given these characteristics, ZIP 58372 would likely be a poor fit for a hands-off voucher operator. The extremely low number of renters and the high median income imply that few residents would qualify for or require Section 8 vouchers. For a hands-on value-add buyer, the situation presents mixed opportunities. While the potential for rental income is uncertain due to the scarcity of rental properties and data, the high median income could indicate a strong local economy and potential for property appreciation. However, the absence of rental market data and the dominance of homeownership suggest that any investment strategy should be carefully tailored to the unique conditions of this ZIP code, focusing on long-term value rather than immediate rental returns.
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.