Section 8 Fair Market Rent (FMR) for ZIP 58529 - 2027

Location: Sioux County, ND | Metro: Grant County, ND

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$780
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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

721

Median Household Income

$65,536

Housing Units

403

Renter Percentage

18.3%

Occupancy Rate

73.2%

Renter Occupied

The ZIP code 58529, located in North Dakota, is characterized by its rural setting and relatively low population density. This area offers unique opportunities for real estate investors interested in the Section 8 housing market, where rental properties are leased to tenants who receive rental assistance through the federal government.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,040.
The average market rent, according to Census ACS data, stands at $644 for the same type of unit, indicating a significant premium for Section 8 properties.
The median income for residents in this ZIP code is $65,536, which suggests a stable economic base supporting the demand for affordable housing.
Renters make up 18.3% of the housing market, showing a notable but not overwhelming reliance on rental properties.
The lack of data on days on market (DOM) indicates that property turnover may be slower, potentially due to the limited number of transactions in the area.
The absence of a reported median home value reflects the focus on rental properties rather than homeownership in this region.

Investors in ZIP 58529 should take note of the substantial difference between market rents and Section 8 Fair Market Rents, which presents an opportunity for positive cash flow. With a median income of $65,536, there is a reliable tenant pool capable of meeting the requirements for Section 8 assistance. However, the low percentage of renters and the slow property turnover suggest that the market may be less dynamic and competitive compared to urban areas. Overall, the potential for steady, government-backed rental income makes this ZIP code attractive for those willing to navigate its unique challenges.

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.