Location: Ward County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 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 Fair Market Rent (FMR) for ZIP code 58733 is set at $1,100 for the metro area fiscal year 2026. This figure represents the payment standard for landlords participating in the Section 8 program, which means that this is the amount HUD will pay on behalf of eligible tenants. It's important to note that this is not the total rent you can charge; it's the maximum subsidy amount.
To understand the potential demand for a Section 8 rental property in this area, consider the renter share, which is 1.4%. This indicates that a significant portion of renters in the area rely on housing assistance, suggesting a steady demand for properties that accept Section 8 vouchers.
While there is no specific local rent data available for ZIP 58733, the absence of such data does not diminish the value of participating in the Section 8 program. The lack of detailed local rental rates (N/A) implies that the $1,100 FMR serves as a reliable benchmark for the region.
Regarding acquisition costs, the data also shows N/A, meaning there isn't a specific figure indicating the average cost to acquire a rental property in this ZIP code. However, the 1.4% renter share suggests that investing in affordable housing could be a strategic move given the reliance on housing assistance programs.
Before deciding to participate in the Section 8 program with your first rental property in ZIP 58733, verify that the property meets all the necessary inspection criteria. This includes ensuring compliance with the Housing Quality Standards (HQS), which are essential to qualify for the program. Failure to meet these standards could delay your participation or result in disqualification.
In summary, with an FMR of $1,100 and a 1.4% renter share, landlords in ZIP 58733 can expect a consistent demand for Section 8 rentals. While specific local rental and acquisition costs are unavailable, the outlined figures provide a solid basis for making an informed decision about entering the Section 8 market.
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.