Location: Kidder County, ND | Metro: Kidder County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 58428 is set at $890 per month for the fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, meaning that if you participate in this program, you will receive up to $890 as reimbursement for renting out your property to eligible tenants. It's important to note that this is not the rent you charge your tenant; it's the maximum amount the government will pay on behalf of the tenant.
In ZIP 58428, there isn't specific local market rent data available, so we rely on the FMR as a benchmark. The 13.3% renter share indicates that a significant portion of the population in this area rents their homes, suggesting a steady demand for rental properties. However, since there is no median home value data provided, we cannot directly compare the FMR to typical home values to assess acquisition costs. Typically, a higher renter share can translate into a competitive rental market, which is beneficial for landlords looking to fill vacancies quickly.
To ensure you're making a sound investment decision, verify that the property meets the minimum standards required by the Section 8 program. These standards include basic safety and habitability requirements, such as having working smoke detectors, clean water supply, and no major health hazards. Meeting these criteria is essential for approval and continued participation in the program.
Participating in Section 8 can offer a stable source of income, as payments are made directly by the housing authority, reducing the risk of non-payment. However, it also comes with additional responsibilities, including regular inspections and adherence to program rules. The $890 payment standard should cover most of your costs, including mortgage payments, utilities, and maintenance, but it's crucial to do a thorough financial analysis before committing to a Section 8 rental.
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.