Section 8 Fair Market Rent (FMR) for ZIP 58495 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 58495

• Ransom County Housing Authority (Ashley, ND) - 95 Section 8 vouchers
• McIntosh County Housing Authority (Ashley, ND) - 44 Section 8 vouchers
• LaMoure County Housing Authority (Ashley, ND) - 34 Section 8 vouchers

The ZIP code 58495, located in North Dakota, represents a rural area where the housing market dynamics differ significantly from urban centers. The region is characterized by its low population density and reliance on agriculture and natural resources.

• The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $890. This figure indicates the average monthly rental cost for a standard two-bedroom apartment and serves as a benchmark for rental pricing.
• The actual market rent, based on the latest Census American Community Survey (ACS), stands at $586. This lower figure reflects the realities of the local rental market, suggesting that there is room for potential growth in rental prices.
• The median home value is currently N/A, indicating that the majority of homes in the area are owner-occupied rather than rented, which can affect the supply and demand balance for rental properties.
• Renters make up 16.8% of the total housing units in ZIP 58495. This relatively low percentage suggests a smaller pool of potential tenants compared to more urban areas.
• The Days on Market (DOM) for listings is N/A, which could imply that either the data is incomplete or that sales activity is infrequent, making it challenging to gauge how quickly properties are typically sold.
• The median household income in the area is $73,661. While this figure provides insight into the economic health of the residents, it does not directly correlate with rental affordability unless considered alongside the market rent figures.

Investors looking to enter the rental market in ZIP 58495 should consider the significant gap between the Fair Market Rent and the current market rent, which presents an opportunity for price adjustment. However, the low renter share and the lack of data on home values and DOM indicate that the rental market may be less robust and competitive. Given these factors, it is advisable for investors to focus on properties that can be priced competitively while still offering attractive returns, keeping in mind the economic context of the area and the potential for tenant scarcity.

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.