Location: Kidder County, ND | Metro: Kidder County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 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 median income in ZIP code 58482 stands at $64,583, which provides a critical context for evaluating rental affordability. At the current market rate of $824 per month, as reported by the Census ACS, the average household would dedicate approximately 15.5% of their gross monthly income towards rent. This calculation is based on an annual income of $64,583, translating to a monthly income of roughly $5,382. While this percentage is manageable, it highlights the financial strain many households might experience.
In comparison, the Fair Market Rent (FMR) for ZIP 58482, set at $870 for metro FY 2026, slightly exceeds the market rate. This means that landlords participating in the Section 8 voucher program could expect a higher guaranteed rent payment, albeit with the stipulation of government oversight and compliance.
With 24.3% of the 960 residents being renters, the competition among landlords is relatively moderate. However, the affordability gap between the median income and both the market rate and FMR suggests that many potential tenants may struggle to pay even the lower market rate without assistance. Landlords should consider the demand for subsidized housing, as it can provide a steady stream of income and reduce vacancy rates.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: accepting Section 8 vouchers can offer a competitive advantage in attracting and retaining tenants who need financial assistance. While vouchers ensure a consistent, government-backed rental income, they also come with regulatory requirements. On the other hand, relying solely on cash-paying tenants may lead to higher turnover rates and vacancies if the local economy cannot support the current market rates.
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.