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 ZIP code 58463 stands out due to its relatively low population of only 582 residents, with a significant portion of 22.3% choosing to rent their homes. Despite the limited data available, such as the absence of a reported median home value, the median income of $61,667 provides insight into the financial capabilities of the local residents.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 58463 in fiscal year 2026 is set at $920, which is notably higher than the current market rent of $368 as reported by the Census Bureau's American Community Survey (ACS). This substantial gap suggests that landlords participating in the Section 8 program can expect significantly higher rental income compared to the average market rate. The disparity between the FMR and the actual market rent indicates that there is a strong demand for affordable housing options within this ZIP code, making it an attractive area for landlords who wish to receive stable rental payments through the voucher program.
The data signature for ZIP 58463 reads as "stable." The consistent median income figure and the clear distinction between the FMR and market rent indicate a reliable environment for landlords and small-portfolio investors looking to enter the Section 8 housing market. With a substantial portion of the population already engaged in renting, and the potential for increased rental income through the voucher program, this ZIP code presents a solid opportunity for those willing to participate in providing affordable housing solutions.
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.