Location: McIntosh County, ND | Metro: Emmons County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The median income in ZIP code 58581 stands at $63,047, which places it slightly above the national average. However, when considering the market rate for rent, which is $617 according to the Census ACS, the economic landscape becomes more nuanced. This figure suggests that a significant portion of the population can comfortably cover their housing costs without financial strain.
In contrast, the voucher payment standard for the Fair Market Rent (FMR) in this area is set at $920 for metro FY 2026. This represents a substantial difference from the market rate, indicating that landlords who accept vouchers might be looking at higher rental incomes compared to those relying solely on cash-paying tenants. The disparity between the market rate and the FMR highlights an opportunity for landlords to potentially increase their revenue streams by participating in the voucher program.
The ZIP code has a relatively low percentage of renters at 15.1%, suggesting that the majority of the population consists of homeowners. With a total population of 263, the number of potential renters is limited, which could lead to increased competition among landlords for the available tenant pool. This competitive environment means that landlords must carefully consider their pricing and acceptance policies to attract and retain tenants.
The affordability gap, where the FMR exceeds the market rate, signals that there is a segment of the population that might benefit significantly from voucher assistance. For landlords, this means that accepting vouchers could not only bring in more reliable rental income but also tap into a market that is underserved by the current rental offerings.
Takeaway: Landlords in ZIP 58581 should seriously consider adopting a strategy that includes accepting vouchers. While the overall number of renters is modest, the higher payment standard associated with vouchers ($920) presents a lucrative alternative to the lower market rate ($617). By embracing this approach, landlords can mitigate competition risks and secure a steady stream of income from tenants who might otherwise struggle to find affordable housing.
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.