Location: LaMoure County, ND | Metro: Dickey County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
U.S. Census Bureau data (2024)
The ZIP code 58415, located within LaMoure County, ND, presents a unique opportunity for real estate analysis, particularly for those interested in Section 8 housing. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,060. This figure is crucial for understanding the rental dynamics within the county.
While the market rent and home values for ZIP 58415 are not available, the 5.3% renter share provides insight into the composition of the area's housing market. In comparison to typical ZIP codes within LaMoure County, ND, this percentage is relatively low, suggesting that the majority of residents in 58415 own their homes rather than renting them.
To determine whether ZIP 58415 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider the implications of the available data. The FMR of $1,060 is a government-set benchmark that reflects the average cost of decent-quality rental housing in the area. If market rents were available and were significantly lower than the FMR, it would indicate that 58415 is undervalued relative to the metro area, potentially making it a value pocket for investors.
The absence of market rent and home value data for 58415 makes it challenging to draw definitive conclusions about its status within the metro. However, the low renter share combined with the potential for lower-than-FMR rental costs could signal an attractive location for Section 8 properties. This combination often indicates a sweet spot for Section 8 landlords and investors, where the demand for affordable housing is met with a lower supply of renters, creating a competitive advantage for those who can offer quality rentals at rates that align with the FMR.
Investors should also be aware that the FMR of $1,060 sets a maximum limit for what Section 8 tenants can pay in rent, which means landlords need to ensure their rental properties are priced competitively within this range to attract tenants. Given the low renter share, there might be fewer competing properties, allowing landlords to capture a larger portion of the rental market if they position themselves correctly.
In conclusion, while direct comparisons to other ZIP codes in LaMoure County, ND, are limited by the lack of market-specific data, the combination of the FMR and the low renter share suggests that 58415 could be a valuable niche for Section 8 investments. The key will be to understand local market conditions and price accordingly to maximize occupancy and profitability.
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.