Section 8 Fair Market Rent (FMR) for ZIP 58483 - 2027
Location: Stutsman County, ND | Metro: Kidder County, ND
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$57,292
To decide whether to buy in ZIP code 58483 for Section 8 investment, follow this decision tree:
- 1) Does FMR $920 (metro FY 2026) clear debt service on a property?
- Yes: If the Fair Market Rent (FMR) of $920 can cover your debt service, then you're in a position where the income from Section 8 tenants will meet your financial obligations. This is a critical first step.
- No: If the FMR of $920 does not clear your debt service, purchasing in this area for Section 8 purposes would not be financially viable. Look for properties with lower debt service requirements or consider other ZIP codes.
- 2) Is market rent above, at, or below FMR?
- Above FMR: If the market rent is higher than the FMR of $920, landlords might find it challenging to attract Section 8 tenants due to the limited amount they can pay. It depends on how much higher the market rent is and whether there's flexibility in finding properties that fall closer to the FMR.
- At FMR: If market rents align with the FMR, this creates a balanced scenario where landlords can attract Section 8 tenants without significant difficulty. Proceed to the next question.
- Below FMR: If market rents are below the FMR, landlords can more easily find Section 8 tenants willing to pay the full FMR. This is favorable for Section 8 investments.
- 3) Are 17.8% renters + N/A-day DOM enough demand?
- 17.8% renters with N/A-day Days on Market (DOM): The percentage of renters is low, suggesting a smaller pool of potential tenants. However, if the DOM is short, indicating quick turnover, there might still be sufficient demand. Evaluate the specific numbers of DOM to determine viability. A short DOM could mean that units are rented quickly once they become available, which is positive.
- It depends: With only 17.8% of the population renting, the demand for rental properties is limited. Yet, if the DOM is very low, it indicates strong local demand despite the small percentage of renters. Conversely, a high DOM would suggest weak demand even among the existing renters. Analyze these factors carefully before making an investment decision.
The key to success in ZIP 58483 for Section 8 investment lies in ensuring that the FMR can cover your costs and that there's enough demand from both the renter population and the market conditions. If either of these criteria isn't met, reconsider your investment strategy or explore other ZIP codes.
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.