Location: Bismarck, ND | Metro: Bismarck, ND MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 58494, located in Bismarck, ND MSA, reveals several key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1130 for the fiscal year 2024, while the Census ACS reports an average market rent of $788. This significant gap between the FMR and the actual market rent indicates that voucher tenants will generally cashflow positively at the HUD rate.
To further understand the rental market dynamics, it's important to note that the median home value is listed as N/A, which suggests that the focus should be primarily on rental properties rather than homeownership. Given the lack of data on median home values, deriving a precise rent-to-price ratio is not feasible; however, the strong rental demand implied by the FMR vs. market rent comparison supports a robust investment opportunity in rentals.
The N/A-day median days on market (DOM) and N/A% price-cut share indicate that there isn't enough data to assess the speed at which properties sell or the frequency of price reductions. Nevertheless, these metrics are less critical given the primary focus on rental income over property sales in this ZIP code.
The strongest investor angle in ZIP 58494 is cashflow. With the HUD FMR substantially exceeding the market rent, landlords can expect to generate positive cashflow from Section 8 tenants, making it an attractive option for those seeking reliable rental income without the need for premium units. This positive cashflow scenario provides a stable and predictable return on investment, ideal for both landlords and small-portfolio investors looking to capitalize on the rental market within this metro area.
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.