Location: Emmons County, ND | Metro: Emmons County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
U.S. Census Bureau data (2024)
The median income in ZIP code 58544 stands at $76,250. Given the market rate of $858 for rent (as per Census ACS), a household in this area can afford the rent, though it represents a significant portion of their monthly income. To put this into perspective, if we consider a household spending 30% of its income on housing, which is a common guideline, they would allocate approximately $1,906 towards rent. This amount is considerably higher than the current market rate, indicating that the typical household has some flexibility but is still paying a substantial share of its earnings.
In contrast, the Fair Market Rent (FMR) set at $1,150 for the metro area in fiscal year 2026 is notably higher than the current market rate. This suggests that households benefiting from Section 8 vouchers might find themselves in a better position to negotiate rents closer to the FMR standard, potentially offering landlords a higher rental income compared to the current market rate.
The ZIP code has a relatively low percentage of renters at 12.7%, with a total population of 549. This means that landlords face less competition from other rental properties, as the majority of residents likely own their homes. However, the affordability gap between the median income and the FMR highlights a challenge for renters who do not have access to subsidies. Landlords must weigh the benefits of accepting higher voucher payments against the potential risk of having fewer tenants able to pay without assistance.
The takeaway for landlords is clear: while there is less direct competition from other rentals due to the low percentage of renters, the affordability gap makes Section 8 vouchers an attractive option. Accepting voucher payments at or near the FMR could provide a stable and higher income stream compared to relying solely on market-rate rents. However, landlords should also be prepared to cater to the needs of subsidized tenants and comply with the associated regulations.
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.