Location: Ward County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
The ZIP code 58702, located in Unknown, ND, presents an interesting scenario for landlords and small-portfolio investors considering Section 8 tenants. The population data is currently unavailable, making it challenging to estimate the exact number of potential renters. However, without a defined percentage of renters or median household income, we can infer that this area lacks detailed demographic insights, which is crucial for understanding the depth of voucher demand.
In the absence of specific local rent figures, we must rely on the Fair Market Rent (FMR) set by HUD, which for the metro area including ZIP 58702 is $1,170 for fiscal year 2026. This figure serves as a benchmark for assessing rental affordability in the region. Given the lack of precise local income data, we cannot provide a direct comparison between median household income and market rents. Nonetheless, it's important to note that the FMR is designed to reflect the average gross rent for a standard-quality rental unit in the area, including utilities, but excluding telephone service and cable or satellite television service.
A landlord in ZIP 58702 should anticipate a tenant pool that heavily relies on housing vouchers due to the high likelihood of a significant portion of residents having lower incomes. While the exact percentage of income spent on rent cannot be calculated with the available data, it's reasonable to expect that typical rents will consume a considerable share of local incomes, especially if those incomes are below the national median.
To conclude, landlords in ZIP 58702 should prepare for a tenant base that predominantly consists of low-income individuals who require housing assistance through Section 8 vouchers. With the FMR at $1,170, landlords need to ensure their rental units meet the quality standards required for participation in the Section 8 program. This tenant profile suggests a focus on maintaining properties in good condition and adhering to program regulations to benefit from steady, government-assisted rental payments.
Data Sources: FMR data from HUD (2027).
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.