Location: McHenry County, ND | Metro: McHenry County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The Section 8 housing analysis for ZIP code 58713 is based on the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR stands at $1,000, while the market rent remains unreported. This gap is significant because it determines whether landlords should consider voucher tenants as a means to achieve higher yields or if they must accept lower rents compared to the open market.
In ZIP code 58713, where there are no reported renters (0.0%) and the median home value is not available, the median income is $85,833. Given that the FMR exceeds the unknown market rent, landlords can leverage this situation to their advantage. By accepting Section 8 voucher tenants, landlords can ensure a steady stream of rental income at $1,000 per month, which is guaranteed by the government. This makes the area a yield play for those who might otherwise struggle to find tenants willing to pay market rates.
The explicit gap in dollars is $1,000, though without the market rent figure, we cannot calculate the percentage difference. However, the implication is clear: landlords can secure reliable rental income above what the market would likely bear. This scenario is particularly beneficial in an area with a high median income but no reported renters, suggesting that traditional rental markets may be underdeveloped or that homeownership is the predominant form of residence.
Landlords and small-portfolio investors should consider the long-term benefits of accepting Section 8 vouchers. While the upfront work may include navigating the application process and understanding the requirements, the consistent and government-backed rental income can outweigh these initial challenges. Moreover, the lack of competition from other renters can further solidify the attractiveness of this strategy.
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.