Location: Stutsman County, ND | Metro: Kidder County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
A household in ZIP code 58496, with a median income of $110,804, can indeed afford the market rate rent of $988. However, when comparing this to the Fair Market Rent (FMR) set at $1,080 for the metro area in fiscal year 2026, it becomes evident that the market rate is below the voucher payment standard. This means that landlords who accept vouchers could potentially receive higher rent payments than those who rely solely on market rates.
The affordability gap, combined with the fact that only 16.8% of the 204-person population are renters, suggests limited competition among landlords for tenants. This low rental rate indicates a tight housing market where the demand for rental properties might not be high enough to drive up rents significantly.
For landlords considering whether to adopt voucher acceptance or focus on cash-paying tenants, the data points to a strategic advantage in accepting vouchers. Vouchers can guarantee a steady stream of income at or above the market rate, reducing the risk associated with finding and retaining cash-paying tenants in a market with fewer potential renters.
Takeaway: Landlords in ZIP 58496 should consider accepting vouchers to ensure they receive at least the FMR of $1,080, which is higher than the current market rate of $988. This strategy can help mitigate the risks posed by a low rental population and fierce competition for the few available renters.
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.