Location: Golden Valley County, ND | Metro: Golden Valley County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
The market in ZIP code 58632 is currently experiencing a dynamic shift that frames it as an area in motion. The Fair Market Rent (FMR) for the region, set at $1,240 for fiscal year 2026, indicates the government's benchmark for rental affordability. This figure contrasts sharply with the actual market rent of $446, as reported by the Census Bureau's American Community Survey. This discrepancy suggests that the local rental market is likely undervalued relative to federal standards, potentially signaling an opportunity for growth.
The percentage of price-cut share and days on market (DOM) are unavailable, which means we cannot precisely gauge the speed at which properties are selling or the frequency of price adjustments. However, the lack of these metrics does not necessarily imply stagnation. Instead, it points to a market that might be less volatile, with steady but perhaps not rapid transactions.
A median home value that is also not available can be interpreted in several ways. It could mean that the area lacks significant residential property investment activity, or that the housing stock is relatively homogeneous, making it difficult to establish a median. This ambiguity leaves room for further exploration into the local real estate landscape.
The 31.6% renter share is a critical metric that reveals underlying pressures within the housing market. A substantial portion of residents choosing to rent rather than buy suggests ongoing challenges in homeownership, possibly due to financial constraints or a preference for flexibility. This high renter share implies a continuous demand for rental properties, which could translate into sustained occupancy rates and stable cash flows for landlords and small-portfolio investors. Over the long term, this trend may exert upward pressure on rental prices as demand persists, especially if the supply of rental units remains limited.
In conclusion, ZIP 58632 presents a market characterized by low current rents compared to the FMR, indicating potential for appreciation. With a significant renter population, there is a clear indication of persistent demand for rental properties, which supports a positive outlook for landlords and small-scale investors looking to capitalize on steady income streams. The absence of certain metrics highlights areas where deeper analysis could provide valuable insights into the local real estate dynamics.
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.