Location: Stark County, ND | Metro: Hettinger County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 58647 presents a unique opportunity for real estate investment, particularly within the context of Section 8 properties. To classify this area, we must consider both the yield potential and the stability factors.
Yield Analysis: The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920. This figure is notably higher than the market rent of $843, indicating that properties in this ZIP could command a premium when leased through the Section 8 program. However, the absence of a specific home value figure suggests that the market for purchasing homes in this area might be less transparent or standardized, which could complicate initial investments.
Stability Factors: The ZIP code has a rental rate of 23.8%, which is a moderate indicator of demand for rental housing. The lack of data on days on market (DOM) means there's insufficient information to assess how quickly properties are typically rented out. The average household income is $84,583, which is a positive sign, as it indicates a relatively stable economic base supporting the rental market.
Given these specifics, ZIP 58647 appears to lean towards a steady-cashflow zone. The higher FMR compared to market rent suggests that landlords can achieve better yields through Section 8 leases. Additionally, the presence of a decent average income level supports the notion that tenants will likely have the financial stability to meet their obligations. While the rental rate is not exceptionally high, it does indicate a consistent demand for rental properties. The absence of a home value figure and DOM data introduces some uncertainty, but does not significantly detract from the overall stability of the cash flow expected from Section 8 rentals in this area.
In conclusion, the primary drivers for this classification are the favorable FMR to market rent ratio and the solid average income level. These factors combine to offer a reliable source of rental income, albeit without the explosive growth potential of a high-yield/low-stability market.
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.