Location: McIntosh County, ND | Metro: Dickey County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
U.S. Census Bureau data (2024)
The ZIP code 58456, with a population of 703, has a rental market that comprises 15.7% of its housing units. This indicates a modest presence of renters in the area, suggesting that while there is some demand for rental properties, it is not overwhelmingly high. The median household income in this ZIP is $66,607, which provides a basis for understanding the financial capacity of potential tenants.
In the context of the $1,063 average market rent, typical rent consumes approximately 1.6% of the local median income. This calculation is derived from dividing the market rent by the median household income and multiplying by 100. For instance, $1,063 divided by $66,607 equals about 1.6%, indicating that rent is relatively affordable compared to the income levels in the area.
The Fair Market Rent (FMR) for the metropolitan area is set at $1,060 for fiscal year 2026, closely matching the current market rent of $1,063. This parity suggests that the rental market in ZIP 58456 is aligned with broader regional standards, making it a stable environment for landlords.
A landlord in this ZIP can expect tenants who are likely to be reliant on Section 8 housing vouchers due to the modest rental market size and the need for affordable housing options. These tenants will have their rent subsidized up to the FMR, ensuring they can afford the $1,063 average market rent without overextending their budget. Landlords should prepare to work with the local housing authority to ensure compliance with Section 8 regulations.
The tenant profile will typically include individuals and families who qualify for low-income housing assistance. Given the median income, these tenants might be working part-time or in lower-paying jobs, relying on the voucher system to secure housing. It's crucial for landlords to understand the eligibility criteria for Section 8, which includes a limit on household income, to accurately predict the type of tenants they will attract.
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.