Location: Sioux County, ND | Metro: Bismarck, ND MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 58570 reveals a unique balance between yield potential and market stability. The Fair Market Rent (FMR) for ZIP 58570 in fiscal year 2024 is set at $940. This figure represents the maximum amount that a landlord can charge for a rental property under the Section 8 program, providing a clear benchmark for expected rental income.
However, the absence of data regarding local market rents and home values suggests that there is limited competition from non-subsidized housing options. This gap indicates a higher likelihood of securing tenants through the Section 8 program without significant price adjustments. In essence, while the exact market rent and home value figures are unavailable, the reliance on the FMR of $940 implies a high-yield environment where landlords can expect consistent rental income from Section 8 participants.
In terms of stability, ZIP 58570 presents a mixed picture. With only 3.8% of the population being renters, the demand for rental properties is relatively low. This statistic points towards a smaller pool of potential tenants, which could lead to increased vacancy rates and longer days on market (DOM) periods if there's a lack of available Section 8 vouchers or if the voucher process is lengthy. However, the median household income of $110,938 is a strong indicator of financial stability among residents, suggesting that those who do rent are likely to be reliable tenants who can maintain their rental obligations.
Given these factors, ZIP 58570 leans towards a steady-cashflow zone. The high FMR ensures that landlords receive a substantial income, while the robust median income supports the likelihood of stable tenancy. Although the low percentage of renters might initially suggest low stability, the combination of a guaranteed rental income through the Section 8 program and the financial health of the community mitigates this risk. For landlords and small-portfolio investors, this ZIP code offers a reliable source of income with minimal risk of default, making it an attractive option for long-term investment.
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.