Location: Ward County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,450 |
| 5 Bedrooms | $2,842 |
| 6 Bedrooms | $3,183 |
| 7 Bedrooms | $3,438 |
| 8 Bedrooms | $3,610 |
U.S. Census Bureau data (2024)
ZIP 58704, located in Ward County, North Dakota, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The primary reason for this classification is the significant spread between the Fair Market Rent (FMR) and the market rent. For fiscal year 2026, the HUD Metro FMR for the area is set at $1,620, whereas the current market rent stands at $1,431. This difference means that landlords can potentially receive higher rents through Section 8 vouchers compared to what they might charge in the open market.
The median home value data is not available, which suggests that the area may be less attractive for homeownership and thus more suited for rental properties. This further supports the idea of focusing on the rental market, particularly through Section 8 programs.
While the appreciation potential is listed as N/A due to missing data on price-cut shares and days on market (DOM), the high renter share of 99.6% indicates a robust demand for rental housing. This consistent demand ensures steady occupancy rates, which is crucial for maintaining positive cash flow. Additionally, the median income of $62,500 provides a stable economic base, ensuring that tenants have the financial capability to pay their portion of the rent.
In conclusion, ZIP 58704 is best positioned as a cash-flow anchor within a Section 8 portfolio. The guaranteed higher rent through the FMR system, combined with the high renter share and stable median income, makes it an ideal choice for landlords and small-portfolio investors seeking reliable returns.
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.