Location: Slope County, ND | Metro: Golden Valley County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 58654 reveals several key points that landlords and small-portfolio investors should consider before investing in this area.
Firstly, regarding the rent math, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,040. However, the lack of available market rent data means we cannot directly compare these figures. It's crucial to note that the FMR serves as a benchmark but without concrete market rent data, it's challenging to assess if the rent math works effectively in this specific ZIP code.
Secondly, the acquisition affordability in ZIP 58654 is unclear due to the absence of median home values, days on the market (DOM), and the percentage of homes needing price cuts. These missing metrics prevent a thorough evaluation of whether buying property in this area would be financially feasible for landlords looking to enter the market.
Lastly, concerning tenant demand, the ZIP code has a population of 244, with only 1.2% being renters. This low percentage indicates a limited pool of potential tenants, which could make it difficult to find occupants for rental properties. The small number of renters suggests that there is not a strong demand for rental housing in this area.
Verdict: Investing in ZIP 58654 presents significant challenges. The absence of critical data such as market rents, median home values, and sales dynamics makes it hard to ascertain whether the rent math works or if acquisitions are affordable. Moreover, the extremely low renter share in the population suggests weak tenant demand, which is a major drawback for rental investments. Landlords and investors should proceed with caution and seek additional local insights before considering an investment here.
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.