Location: McLean County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 58716 in the McLean County, ND metro area reveals key insights for potential Section 8 landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. However, the market rent for ZIP 58716 is not available, making it difficult to directly compare the two figures. Despite this lack of information, the FMR provides a benchmark for rental income that can be expected under the Section 8 program.
Regarding the affordability of property acquisition, the data lacks specifics on the median home value, days on market (DOM), and the percentage of homes that have been subject to price reductions. Without these details, it's challenging to assess the cost and competitiveness of acquiring properties in this ZIP code. Investors should conduct further research to determine if local real estate prices align with their investment criteria.
Tenant demand is another critical factor. ZIP 58716 has a total population of 308, with only 1.6% being renters. This low percentage suggests that there might not be significant tenant demand for rental properties, especially considering the small overall population. Landlords may find it challenging to secure tenants willing to participate in the Section 8 program due to limited interest in renting within this ZIP code.
Verdict: While the Section 8 program offers a guaranteed rent of $970 per month, the absence of market rent data complicates the evaluation of whether this figure is competitive. Additionally, the lack of detailed acquisition costs and market conditions makes it hard to judge the affordability of buying properties. Most importantly, the low renter share and small population indicate weak tenant demand, which could pose challenges for maintaining occupancy rates. Investors should proceed with caution and seek additional local data before committing to this ZIP code.
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.