Location: Sheridan County, ND | Metro: McHenry County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $2,410 |
| 5 Bedrooms | $2,796 |
| 6 Bedrooms | $3,132 |
| 7 Bedrooms | $3,383 |
| 8 Bedrooms | $3,552 |
U.S. Census Bureau data (2024)
The ZIP code 58710 is located in a rural setting, primarily encompassing parts of Morton County, North Dakota. This area is characterized by a small, tight-knit community with a total population of 498 residents. Only 8.0% of these residents are renters, indicating a predominantly owner-occupied environment. The median household income in this region stands at $69,792, which reflects a stable economic base but also suggests that many households might have the means to purchase rather than rent homes.
From an investment perspective, the rental economics present an interesting opportunity. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,380, whereas the current market rent, according to the Census ACS, is $900. This discrepancy between the FMR and the actual market rent indicates a potential for higher rental income if properties are rented under the Section 8 program. Landlords could benefit from the difference, although they must be prepared to adhere to the guidelines and regulations associated with the Section 8 Housing Choice Voucher Program.
Given the low percentage of renters and the relatively high median income, it's clear that ZIP 58710 is not a highly sought-after area for hands-off voucher operators. Such investors typically prefer locations with a larger number of tenants who rely heavily on vouchers due to lower incomes. However, for hands-on value-add buyers, there could be opportunities to improve properties and potentially command rents closer to the FMR, especially if targeting families or individuals eligible for Section 8 assistance.
In summary, while ZIP 58710 offers limited appeal for passive investors looking to capitalize solely on the Section 8 program, it presents a niche market for those willing to actively manage and enhance their properties. These investors can leverage the gap between the FMR and current market rents to create value and achieve better returns, aligning with the local demographic and economic conditions.
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.