Location: Sheridan County, ND | Metro: Sheridan County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 58430 in Sheridan County, North Dakota, reveals several key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area, encompassing the broader metro scope for fiscal year 2026, stands at $920. This figure serves as the benchmark for rental income under the Section 8 Housing Choice Voucher program.
Despite the lack of specific market rent data for ZIP 58430, the HUD FMR can be used to assess the potential cash flow from voucher tenants. Given that FMRs often reflect the lower end of the market spectrum, it's likely that voucher tenants will only cash flow at the FMR level with premium units. This means landlords should focus on properties that offer above-average amenities or are in prime locations to ensure they meet or exceed the FMR without compromising on profitability.
The median home value in ZIP 58430 is also not available, which complicates deriving an exact rent-to-price ratio. However, understanding this ratio is crucial for gauging the relative affordability of renting versus buying. In areas where such data is typically low, it suggests that renting could be a more attractive option for residents, potentially stabilizing occupancy rates for landlords.
The Days on Market (DOM) and price-cut share percentages are unavailable, but these metrics are important for understanding the local real estate market's health and how quickly homes are selling. A high DOM and significant price-cut share would indicate a buyer's market, making rental properties more appealing to tenants and thus beneficial to investors focused on steady cash flow.
In conclusion, while the specific market rent and median home value data for ZIP 58430 are not available, the strong cash flow potential from premium units makes this a viable investment opportunity for those interested in Section 8 properties. The stability offered by consistent tenant demand due to limited homeownership options is the strongest angle for investors in this ZIP code.
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.