Location: Ward County, ND | Metro: McHenry County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 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 real estate landscape in ZIP code 58731 presents a unique set of conditions that are crucial for landlords and small-portfolio investors to understand. The median home value is currently unavailable, which suggests a limited dataset or a less active market in terms of sales. This can be an indicator of a market where rental properties might dominate, given the lack of recent sale transactions.
The fact that N/A% of listings are reduced also points towards a potentially balanced market. When fewer listings are being reduced, it typically signifies that sellers are holding firm on their asking prices, indicating a stable demand for homes in the area. However, without the exact percentage, we cannot quantify the extent of this stability accurately.
A median days on market (DOM) of N/A days further supports the idea of a stable market. A lower DOM generally indicates quicker sales, suggesting that homes are selling at or close to their asking price. Conversely, a higher DOM might imply a slower market where buyers have more leverage to negotiate. Since the exact figure is not available, we must infer based on the context that the market is likely steady but not overheated.
Moving to the rental side, the Fair Market Rent (FMR) for ZIP 58731 is set at $1,150 for the fiscal year 2026, according to metro data. The current market rent is also unavailable, making it challenging to compare the two directly. However, if the FMR is indicative of the broader regional trends, it suggests that rents in 58731 could remain relatively stable, assuming they align closely with the FMR.
For long-term investors, the setup in 58731 implies a cautious approach to appreciation expectations. Given the lack of specific historical data on home values and rents, it's difficult to establish a strong appreciation thesis. Instead, the focus should be on maintaining consistent cash flows through rentals, given the stable FMR and potential for steady demand.
In summary, the combination of a stable median DOM and a steady FMR signals a market where pricing power will likely remain moderate over the next 12-24 months. Landlords and small-portfolio investors should aim for conservative growth expectations and focus on the reliability of rental income rather than rapid appreciation of property values.
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.