Location: Stutsman County, ND | Metro: Stutsman County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
The ZIP code 58476 represents a rural area with a small population of 502 residents. Only 4.3% of these residents are renters, indicating a predominantly owner-occupied community. The lack of available data on median income and median home value suggests limited economic diversity and possibly sparse housing market activity.
In terms of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,310. However, the actual market rent, according to Census ACS data, is significantly lower at $625. This discrepancy highlights an opportunity for landlords and small-portfolio investors to potentially benefit from the government's higher subsidy rates under the Section 8 program.
Given the characteristics of ZIP 58476, it would be more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The low number of renters and the rural setting imply a need for active management and possibly improvements to attract and retain tenants. Investors looking to maximize returns should consider the potential for increasing property values and rents through strategic upgrades and maintenance.
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.