Section 8 Fair Market Rent (FMR) for ZIP 58377 - 2027

Location: Towner County, ND | Metro: Cavalier County, ND

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

177

Median Household Income

$91,667

Housing Units

125

Renter Percentage

7.3%

Occupancy Rate

65.6%

Renter Occupied

The ZIP code 58377, located in North Dakota, is characterized by its rural setting and sparse population, which directly impacts the real estate market dynamics within the area. This region offers a unique opportunity for landlords and small-portfolio investors looking to venture into less competitive markets.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $890. This figure represents the average rent that can be expected for a two-bedroom apartment, providing a benchmark for rental pricing in the area.
The market rent is currently unavailable for ZIP 58377, indicating a lack of comprehensive data on actual rental prices. This gap suggests that there may be room for strategic pricing based on the FMR and local demand.
The median home value is also not available, which can be attributed to the limited housing stock in the area. However, this also means that property values could be more stable and less prone to rapid fluctuations.
Renters make up 7.3% of the housing market, which is relatively low compared to urban areas. This indicates that the majority of residents are homeowners, potentially leading to a smaller pool of tenants.
The Days on Market (DOM) for listings is not available, suggesting a slower pace of transactions typical in rural areas. This can imply longer holding periods for properties before they are rented out.
The median household income in the area stands at $91,667, which is higher than the national average. This strong economic base supports the potential for steady rental income and lower vacancy rates.

Investors should note that while the rental market in ZIP 58377 is less saturated, it offers a stable environment supported by a robust median income. The lack of specific market rent and DOM data underscores the need for thorough local research and strategic pricing. With a fair market rent of $890, landlords can anchor their pricing strategies around this figure, adjusting for local conditions. Given the high median income, the risk of tenant default is reduced, making the area attractive for those seeking reliable cash flow from rental properties. However, the low renter share implies that competition for tenants may be fierce, necessitating well-maintained properties and possibly additional amenities to attract and retain renters.

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.