Location: Burke County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The ZIP code 58721 is situated in a rural setting within the state of North Dakota. This area is characterized by a small, close-knit community with a total population of 517. The demographic makeup includes a relatively low percentage of renters at 20.4%, indicating that homeownership is predominant. With a median household income of $83,750, residents in this area enjoy a comfortable standard of living, though the median home value is not available, suggesting that housing data might be limited or less structured compared to urban areas.
Moving into the economic analysis of rental properties, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960. However, the actual market rent in ZIP 58721, according to Census ACS data, is significantly lower at $600. This discrepancy highlights an opportunity for landlords and small-portfolio investors to potentially benefit from the gap between government-set rates and the local market conditions.
Given these details, ZIP 58721 may not be the ideal location for a hands-off voucher operator due to the relatively low number of renters and the potential challenges in finding tenants who qualify for Section 8 vouchers. On the other hand, it could be a suitable area for a hands-on value-add buyer who is willing to invest time and effort into improving properties and attracting tenants. The lower market rent suggests that there is room for increasing rents closer to the FMR without making units unaffordable for many local residents.
In summary, while ZIP 58721 offers a stable income environment with a high median income, the small size of the rental market and the current disparity between FMR and market rent indicate that active management and strategic investment would likely yield better returns than a passive approach.
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.