Location: Wells County, ND | Metro: Kidder County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 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 analysis of ZIP code 58418, located in Wells County, ND, reveals several key points for landlords and small-portfolio investors.
Regarding the rent math, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870. However, without specific data on the current market rent for this ZIP code, it's challenging to determine if the rent math works effectively. Landlords should seek local insights to ensure their rental rates align with the FMR and are competitive within the market.
Acquisition affordability in ZIP 58418 cannot be fully assessed due to the lack of specific information on the median home value, days on market (DOM), and the percentage of homes that have been listed with price cuts. These metrics would provide clarity on whether it's a good time to acquire property in this area.
Tenant demand is another critical factor. The ZIP code has a total population of 259, with 11.6% of residents being renters. This indicates a limited pool of potential tenants, which could affect occupancy rates and the overall demand for rental properties. Landlords must consider this demographic when deciding on investment opportunities in this area.
Verdict: While the Fair Market Rent for ZIP 58418 is established at $870, the absence of current market rent data complicates the assessment of rent math viability. Acquisition costs remain unclear without specifics on median home values, DOM, and price cut shares. The tenant demand is modest given the small population size and low renter share. For landlords and small-portfolio investors, this area presents a niche opportunity but requires thorough local research to navigate its unique challenges and potential rewards.
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.