Location: Stutsman County, ND | Metro: Stutsman County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 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)
870 dollars is the Fair Market Rent (FMR) for ZIP code 58402 in metro areas for fiscal year 2026. This figure indicates the maximum amount landlords can charge for a two-bedroom unit under the Section 8 program. While specific market rent data for ZIP 58402 is not available, it's essential to understand how FMRs affect the local rental market. The lack of median home value data suggests that homeownership might not be as prevalent in this area compared to other regions.
Despite the absence of precise renter share and median income figures, landlords should focus on the FMR to ensure their properties remain attractive to tenants participating in the Section 8 program. Days on Market (DOM) and price cut share data are also not available, which could imply stable pricing dynamics without significant fluctuations or discounts.
Investors and landlords must consider the FMR of 870 dollars when setting rental prices for properties in ZIP 58402. Given the limited availability of additional data points, reliance on the FMR is critical for aligning with HUD guidelines and maintaining competitiveness in the rental market. The absence of detailed market metrics doesn't necessarily indicate a weak rental environment but rather a need for careful monitoring of local trends.
Verdict: ZIP 58402 is suitable for Section 8 participation with a defined FMR of 870 dollars for a two-bedroom unit, ensuring compliance with HUD standards and attracting government-assisted tenants.
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.