Location: Ward County, ND | Metro: Ward County, ND HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $206,257 | 0.51% | F |
| 3BR | $1,460 | $288,439 | 0.51% | F |
| 4BR | $1,760 | $360,714 | 0.49% | F |
| 5BR | $2,042 | $462,361 | 0.44% | F |
U.S. Census Bureau data (2024)
In Minot, North Dakota, the real estate market for ZIP code 58701 presents a nuanced landscape for both landlords and small-portfolio investors. The median home value stands at $281,818, indicating a stable residential property base. With only 0.2% of listings experiencing price reductions, it suggests that sellers maintain significant pricing power, as there is little downward pressure on asking prices. This stability is further reinforced by the 23-day median Days on Market (DOM), which points to an efficient market where homes are sold relatively quickly, without prolonged exposure that could lead to price negotiations.
The combination of a high median home value, minimal price reductions, and quick sales signals that landlords and investors can expect to maintain their rental rates without significant adjustments due to competition. However, the future outlook for pricing power over the next 12-24 months hinges on broader economic factors such as employment trends, population growth, and interest rate movements. Assuming these remain steady, the current conditions imply sustained pricing power for homeowners and landlords alike.
On the rental side, the Federal Market Rent (FMR) for fiscal year 2026 is projected at $1,030, while the current market rent, as measured by ZORI, stands at $998. This slight upward trend in FMR suggests that the rental market may see a gradual increase in demand, potentially pushing rents closer to the federal benchmark. Long-term investors should consider this trend when assessing the potential for rental income growth.
For long-hold investors, the realistic appreciation thesis in Minot is modest but positive. The market's ability to sustain current home values without significant reductions, combined with the slight increase in expected rental rates, indicates a scenario where property values will likely grow at a pace consistent with inflation and local economic health. This setup does not suggest rapid appreciation but rather a solid foundation for steady, long-term gains. Investors should focus on maintaining properties and managing costs effectively to maximize returns.
The market dynamics in ZIP 58701 are indicative of a balanced real estate environment, where pricing power remains strong and rental markets show a gradual uptick. These conditions favor investors looking for stable, long-term investments over those seeking quick appreciation. The data supports a strategy focused on holding quality assets and leveraging rental income growth as the primary driver of investment success.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.