Section 8 Fair Market Rent (FMR) for ZIP 58602 - 2027

FY 2027 Fair Market Rent Rates

Dickinson, ND, located in ZIP code 58602, is a thriving suburban community with a total population of 28,602 residents. The neighborhood features a median household income of $63,602, which is 17.9% higher than it was five years ago. The median home value stands at $299,183, reflecting a moderate housing market that has grown by 28.8% over the past five years.

The Fair Market Rent (FMR) for ZIP 58602 in the metro area for fiscal year 2026 is set at $1,060. In contrast, the actual median rent in the area is $1,766, which is 22.8% higher than it was five years ago. This significant difference highlights the potential for Section 8 vouchers to be less effective in covering market rents.

Given the discrepancy between FMR and market rent, Dickinson, ND is better suited for hands-on value-add buyers rather than hands-off operators. Landlords and small-portfolio investors should expect to manage properties actively, potentially offering additional services or amenities to attract tenants who may find the voucher amount insufficient for the area's higher-than-average rental prices.

The overall livability score of 71 out of 100 indicates a good quality of life, with above-average safety and housing scores. However, the lower-than-national average cost of living index of 59 suggests that residents have more disposable income, which could influence their willingness to pay higher rents. Investors should carefully evaluate the local market dynamics and consider strategies to optimize rental yields in this growing community.

Data Sources: FMR data from HUD (2027).

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.