Location: Hettinger County, ND | Metro: Adams County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 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 ZIP code 58650 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, with market rents at $775 falling below the Fair Market Rent (FMR) of $870 for fiscal year 2026 in the metro area. This discrepancy suggests that tenants might prefer higher-rent properties, leading to frequent turnover and the associated costs of re-leasing.
Vacancy exposure is another critical issue. The data does not provide a specific number of days on the market (DOM), which makes it difficult to predict how long a property might remain vacant between tenants. This uncertainty can translate into financial instability, as extended vacancies reduce income and increase expenses such as maintenance and utilities.
Deferred-maintenance exposure is also a risk factor. With no typical home value provided, landlords must be cautious about the potential for older, less well-maintained properties in the area. The median income of $74,167 indicates that residents might struggle to afford substantial repairs, leaving landlords responsible for maintaining the property's condition.
Despite these risks, there are factors that mitigate them. The renter share of 16.0% is notably high, suggesting a dense population of renters who may rely heavily on Section 8 vouchers. High renter density typically correlates with higher demand for rental housing, potentially stabilizing occupancy rates and reducing vacancy periods.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 58650 is moderate. While there are significant challenges, the high renter density provides a counterbalance that supports steady demand for affordable housing options.
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.