Location: LaMoure County, ND | Metro: Dickey County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 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 58433, located in LaMoure County, North Dakota, reveals several key points for landlords and small-portfolio investors considering investment in this area.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870. However, the current market rent, according to the Census ACS, stands at $575. This discrepancy indicates that the rent math does not currently work in favor of landlords, as the FMR is significantly higher than what tenants are paying in the market.
Moving on to the affordability of acquisition, the data provided shows that the median home value is N/A, and the average days on market (DOM) and the percentage of homes that have been price-cut are also not available. Without these figures, it's challenging to assess the affordability of acquiring properties in this ZIP code. Investors should seek additional local real estate data to make informed decisions about property purchases.
The third consideration is tenant demand. The ZIP code has a population of 1,159, with 16.0% of residents being renters. This suggests that while there is a relatively small pool of potential tenants, the demand for rental properties is proportionally consistent with the overall population size. Landlords will need to ensure their properties meet the needs of this smaller rental market to attract and retain tenants.
Verdict: Investing in ZIP 58433 presents challenges, particularly due to the disparity between the Fair Market Rent and the actual market rent, which could lead to difficulties in covering operational costs and achieving profitability. The lack of specific data on median home values, DOM, and price-cut percentages makes assessing the affordability of acquisitions uncertain. Additionally, the limited tenant demand necessitates a focused approach to property management and marketing. For landlords and small-portfolio investors, this ZIP code may not be a favorable investment unless they can find ways to reduce operational costs or increase rental income through value-added improvements or services.
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.