Location: McHenry County, ND | Metro: McHenry County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 58744, located within the McHenry County, ND HUD Metro FMR Area, offers a clear perspective on the financial viability of accepting voucher tenants. The HUD Fair Market Rent (FMR) for the area is set at $980 per month for the fiscal year 2026. However, without specific data on current market rents, it's challenging to provide an exact comparison. Based on the provided FMR, landlords can expect that voucher tenants will generally cashflow at the FMR rate, assuming that the voucher covers the full amount. This means that the landlord should be able to cover their mortgage, property taxes, insurance, and maintenance costs with the FMR payment.
The median home value in the area is also not specified, which would typically help us calculate the rent-to-price ratio. This ratio is crucial for understanding how rental income compares to the overall value of the property. Without this information, we cannot make a precise calculation, but the general principle holds that in areas where home values are significantly higher than rents, owning becomes less attractive compared to renting, and vice versa.
Regarding days on market (DOM) and the percentage of price cuts, these metrics are not available. These figures would normally indicate how quickly homes sell and whether sellers often have to lower their asking price, both of which could affect the buy-versus-rent decision. If these were known, they could provide insights into the local housing market's health and stability, influencing investment strategies.
In summary, for landlords and small-portfolio investors in ZIP code 58744, the strongest angle for investment is likely cashflow. Given that the voucher tenants' payments align closely with the HUD FMR, landlords can secure predictable monthly income that covers operational expenses reliably. This makes the area particularly suitable for those seeking stable, low-risk investments focused on generating regular rental income.
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.