Location: McLean County, ND | Metro: McLean County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 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)
The ZIP code 58575 presents several challenges for landlords considering Section 8 investments. Tenant turnover is likely to be higher due to the disparity between the market rent of $779 and the Federal Market Rent (FMR) of $880 for fiscal year 2026 in the metropolitan area. This difference indicates that tenants may struggle to afford rent increases outside of the subsidized rate, leading to frequent moves as they seek more affordable housing options.
Vacancy exposure is another concern. With the days on market (DOM) being listed as N/A, it suggests a lack of recent data on how quickly properties are rented out in this area. This uncertainty can lead to periods where units remain vacant, impacting cash flow and requiring landlords to cover expenses without rental income.
Deferred maintenance is also a risk factor. The typical home value in 58575 is $133,642, while the median household income stands at $83,214. These figures indicate that residents might have limited financial resources to invest in property upkeep, potentially resulting in higher maintenance costs for landlords over time.
However, these risks must be weighed against the significant proportion of renters in the area. With an 11.0% renter share, there is a high concentration of potential voucher holders, which generally translates into a strong demand for Section 8 properties. This high renter density can help mitigate the risks associated with vacancy and turnover, as there will likely be a steady pool of qualified tenants seeking subsidized housing.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.