Location: Bottineau County, ND | Metro: McHenry County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,250 |
| 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 rental landscape in ZIP code 58748 presents a unique set of challenges and opportunities for both landlords and tenants. With a median household income of $66,625, potential renters face a significant hurdle when trying to find housing that fits their budget. Unfortunately, the market rate for rentals is currently unavailable, making it difficult to assess the exact affordability gap for households.
However, we do know that the Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $870. This figure represents the maximum amount that a Section 8 voucher holder would be able to pay towards rent. Given the limited population of 138 individuals and only 1.9% being renters, competition among landlords for these vouchers will likely be intense.
To put this into perspective, a household earning the median income of $66,625 annually would have a monthly disposable income of approximately $5,552 before taxes, assuming they save a portion of their income. If we consider that a significant portion of this income would go towards living expenses other than rent, such as utilities, food, and transportation, it becomes evident that paying the FMR of $870 per month is feasible for most households. However, the unavailability of market rate data means that landlords cannot accurately gauge how much above the FMR they could potentially charge to cash-paying tenants.
The takeaway for landlords is that while the number of renters is low, the affordability of the FMR suggests that there is a strong likelihood that voucher holders can indeed cover their share of the rent. Therefore, landlords should weigh the benefits of accepting Section 8 vouchers against the potential of renting to cash-paying tenants who might be willing to pay slightly higher rates. However, the low renter population implies that securing tenants, whether voucher or cash-paying, may require a strategic approach to ensure consistent occupancy and revenue.
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.