Location: LaMoure County, ND | Metro: LaMoure County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
The ZIP code 58431 stands out due to its extremely low population density, with only 101 residents. This makes it unique in terms of both its rental market and overall housing dynamics. With 18.8% of the residents renting, the rental sector is modest but significant relative to the small population base. The median income for the area is reported at $62,083, which provides a baseline understanding of the economic capacity of the residents.
The lack of data on median home values indicates that either the number of homes sold is too low to provide a reliable figure, or the data is not regularly collected for such a sparsely populated area. Regardless, the Federal Market Rent (FMR) for the ZIP code is set at $970 for fiscal year 2026, which serves as an important benchmark for landlords and small-portfolio investors participating in the Section 8 program. Given the absence of market rent data, the FMR can be considered a reasonable proxy for determining fair rental rates within the voucher system.
The voucher economics in ZIP 58431 suggest that landlords should align their rental prices closely with the FMR to ensure that tenants can utilize their vouchers effectively. Since the median income is $62,083, the majority of residents likely fall within the eligibility range for Section 8 assistance, making participation in the program a viable option for securing tenants.
Based on the available data, the ZIP code 58431 appears to be stable rather than transitional. The low population and the reliance on FMR for rental guidance indicate a steady, albeit limited, market. Landlords and small-portfolio investors should focus on maintaining competitive pricing and ensuring that properties meet the necessary standards for Section 8 participation to succeed in this niche market.
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.