Location: Wells County, ND | Metro: Kidder County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 58423 stands out due to its unique demographic and economic characteristics. With only 201 residents, it has an exceptionally low population density, and notably, there are no individuals reported as renters, indicating a 0.0% rental rate. The absence of reported median income and median home value data suggests that this area is sparsely populated and possibly lacks a robust housing market.
Despite these peculiarities, the Federal Market Rent (FMR) for the ZIP code is set at $870 for fiscal year 2026, which serves as the benchmark for determining the payment standard for Section 8 vouchers. However, the lack of available market rent data means that the $870 FMR might be the primary reference point for landlords and investors considering participation in the Section 8 program. This figure represents the maximum amount that the government will pay towards a tenant's rent, with the landlord responsible for any excess above this standard.
Given the sparse population and the absence of typical market indicators, the ZIP code 58423 presents a scenario that can be interpreted as both stable and transitional. Stability is evident in the consistent low number of residents and the absence of rental properties, suggesting little change in the local housing dynamics. Transition, however, is implied by the lack of comprehensive economic data, which could indicate ongoing development or changes in the area's housing landscape. For landlords and small-portfolio investors, the decision to participate in the Section 8 program should consider the potential for future growth and the current reliance on government-subsidized rents as a significant source of income.
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.