Location: Kidder County, ND | Metro: Kidder County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 58478 presents an interesting scenario for both renters and landlords. Given the median income is not available, it's challenging to assess how typical households can afford the unspecified market rate rents. However, we can analyze the situation based on the Fair Market Rent (FMR) standards set by the government.
The voucher payment standard for this area, as of metro fiscal year 2026, is set at $870. This figure serves as a benchmark for what the government deems affordable for low-income households. In comparison, if the market rate rents exceed this amount, it indicates a potential affordability gap for those relying on vouchers.
With only 17.8% of the 148-person population being renters, the competition among landlords could be relatively low. This suggests that there might not be a large pool of tenants to draw from, which could impact vacancy rates and the ability to increase rents beyond the FMR without losing tenants.
The affordability gap means that landlords who accept vouchers will have a steady, though possibly lower, income stream compared to those who rely solely on market-rate paying tenants. Accepting vouchers ensures a consistent tenant base but caps the potential rental income at the FMR level. On the other hand, landlords who focus on cash-paying tenants may face higher competition for fewer potential renters, especially if the market rate significantly exceeds $870.
Takeaway: Landlords in ZIP 58478 should consider the balance between accepting vouchers at $870 per month, ensuring stable occupancy, and pursuing higher market rates which may come with increased risk of vacancies due to limited demand. The decision should align with their financial goals and tolerance for risk.
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.