Location: Burke County, ND | Metro: Burke County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
U.S. Census Bureau data (2024)
The classification of ZIP code 58727 hinges upon the interplay between rental yields and market stability, using the Federal Market Rent (FMR) of $1,130 as a benchmark for the fiscal year 2026. With the market rent and home value figures currently unavailable, we must rely heavily on the existing data points to make an informed assessment.
On the yield axis, ZIP 58727 stands out due to the FMR figure of $1,130. This suggests that properties in this area can command rents that are aligned with federal guidelines, which is a positive indicator for potential rental income. However, the absence of specific market rent data means there's a lack of direct comparison to gauge how competitive these rents are against non-subsidized housing.
Moving to the stability axis, the ZIP code exhibits relatively low renter turnover, with only 1.1% of the population classified as renters. This implies a stable tenant base, which is beneficial for landlords seeking consistent cash flow without the frequent disruptions associated with high tenant turnover. Additionally, the median household income of $105,417 indicates a financially robust community capable of supporting higher rents and potentially lower vacancy rates.
Despite the strong income figures, the unknown days on market (DOM) metric poses a question mark regarding the speed at which properties can be leased. A lower DOM would suggest a quicker turnaround for vacant units, enhancing the overall stability and predictability of rental income.
Given the available data, ZIP 58727 appears to lean towards being a steady-cashflow zone rather than a high-yield/low-stability market. The high median income supports the ability to sustain higher rents, while the low percentage of renters points to a stable tenant environment. However, the lack of specific market rent and home value data prevents a fully comprehensive analysis. To conclusively determine the market's nature, additional metrics such as the actual market rent and the average DOM would be necessary.
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.