Location: Ward County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 58705, which falls under the HUD Metro FMR Area for Ward County, ND, presents a unique set of challenges and opportunities for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1,360 per month for the fiscal year 2026. However, the lack of available market rent data makes it difficult to compare the HUD FMR directly to local rental rates.
Given the absence of market rent data, we can infer that voucher tenants will likely cashflow at the FMR rate, assuming that the HUD FMR is reflective of the actual rental market conditions. This means that landlords who accept Section 8 vouchers should be able to cover their expenses and generate a profit at the FMR level, barring any unforeseen maintenance or vacancy issues.
The median home value data for ZIP 58705 is also not available, which limits our ability to calculate an accurate rent-to-price ratio. Nonetheless, the absence of this information suggests that the buy-versus-rent dynamic might not be as influential as in other markets where home ownership is more prevalent. This could mean that the rental market remains strong and less susceptible to fluctuations caused by changes in home prices.
The days-on-market (DOM) and price-cut share percentages are not provided, but they would typically give insight into how quickly properties are rented out and the frequency of price adjustments needed to secure tenants. Without these figures, it's important to rely on the FMR as a benchmark for setting rental prices that attract voucher tenants.
The strongest angle for investors in this ZIP code is likely to be stability. Given the reliance on government-backed vouchers and the lack of market rent data suggesting high volatility, investors can expect consistent cash flow and minimal risk of vacancy, making it an attractive option for those seeking a steady investment return.
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.