Location: Barnes County, ND | Metro: Barnes County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The ZIP code 58480, located within the Barnes County, ND metro area, has a Federal Market Rent (FMR) of $940 for fiscal year 2026. This figure is crucial for understanding the rental market dynamics within this specific area. To analyze its position, let's consider the comparative metrics available.
Barnes County, ND typically sees a range of rental markets, but specific data for comparison is not provided here. Given that the market rent and home values for ZIP 58480 are marked as N/A, we must rely on the FMR and renter share percentages to make an informed assessment.
The FMR of $940 can be seen as a benchmark for affordable housing standards set by the U.S. Department of Housing and Urban Development (HUD). It indicates the maximum amount that HUD will pay for rent in the area, which is often used as a reference point for landlords participating in Section 8 programs. Without knowing the exact median market rents of the county, it's reasonable to infer that ZIP 58480 could be positioned as a value pocket within its metro if the FMR is below the average market rent. However, since the market rent is not specified, we cannot definitively categorize it without additional context.
The renter share of 9.3% is relatively low compared to many urban areas where renter shares can be significantly higher. In some cases, a high renter share with below-average home values might signal a sweet spot for Section 8 properties. However, given the low renter share and the absence of home value data, it's challenging to label ZIP 58480 as a sweet spot based solely on this information. Instead, the low renter share suggests that homeownership is more prevalent in this ZIP code, which could mean fewer opportunities for rental properties under the Section 8 program.
In conclusion, ZIP 58480 appears to be a value pocket within the Barnes County, ND metro, assuming its FMR of $940 is lower than the average market rent. The low renter share percentage of 9.3% implies a strong preference for homeownership over renting, which limits the potential for Section 8 properties to dominate the local real estate scene. Landlords and small-portfolio investors should carefully evaluate the broader Barnes County market to understand how ZIP 58480 fits into their investment strategy, particularly focusing on areas with higher renter shares for better Section 8 opportunities.
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.