Location: Stark County, ND | Metro: Bismarck, ND MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,480 |
| 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 real estate landscape in ZIP 58638 presents a nuanced picture for both landlords and small-portfolio investors. The median home value is currently unavailable, as are the percentages of listings that have been reduced and the median days on market (DOM). However, these missing data points suggest an absence of recent significant price adjustments and a stable market environment, which could indicate a steady demand for properties in the area.
On the rental side, the Fair Market Rent (FMR) for ZIP 58638 is set at $860 for fiscal year 2024, while the current market rent as reported by the Census ACS is slightly higher at $867. This minor discrepancy between FMR and market rents signals a balanced rental market where landlords can expect to maintain their current rent levels without facing substantial pressure to reduce them. For long-term investors, this balance suggests that rental income will remain relatively stable, providing a predictable cash flow.
The lack of available data on median home values and listing reductions does not necessarily imply a negative trend but rather a consistent market. In such a scenario, the pricing power of landlords and sellers remains intact due to the absence of widespread price concessions. This stability is further supported by the minimal gap between FMR and actual market rents, indicating that the rental market is closely aligned with government guidelines and unlikely to experience significant fluctuations in the near term.
For long-hold investors, the realistic appreciation thesis in ZIP 58638 is anchored in maintaining the current property values and rental rates. Given the stable median DOM and the slight premium in market rents over FMR, there is an implied setup for continued steady performance. Investors should focus on managing properties efficiently to maximize returns and consider diversifying their portfolio to mitigate risks associated with local market conditions.
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.