Location: Griggs County, ND | Metro: Eddy County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 58464, located in Griggs County, North Dakota, offers a clear picture of the rental landscape for both landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $990 per month for the fiscal year 2026. However, it's important to note that the market rent data for this region is currently unavailable, which means we cannot directly compare the FMR to local market rates.
In the absence of specific market rent figures, it's reasonable to infer that voucher tenants in ZIP 58464 will likely cashflow at the FMR rate, assuming the FMR is above the typical market rent. This inference is based on the understanding that FMRs are designed to reflect the average market rent for modest housing, and when they exceed local market rents, they provide a buffer that ensures positive cashflow for landlords.
The median home value for ZIP 58464 is also currently unavailable. Without this information, deriving an exact rent-to-price ratio is not possible. However, the lack of available home value data suggests that the area may have limited residential property transactions, which could indicate a stable but less dynamic market for home purchases.
The days on market (DOM) and the percentage of price cuts for listings in this area are also not provided. These metrics would typically be relevant in assessing the balance between renting and buying, but their absence means we must rely on other indicators to understand the local real estate market dynamics.
The strongest angle for investors in ZIP 58464 is likely stability. Given the lack of fluctuation in key market data such as median home values and days on market, coupled with the provision of a fixed FMR rate, the market appears to offer a predictable and stable environment for investment. This stability can be particularly appealing for those seeking consistent cashflow without the risks associated with volatile markets.
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.