Location: Bottineau County, ND | Metro: McHenry County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $920 |
| 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 ZIP code 58762 stands out due to its unique characteristics among small rural communities. With only 193 residents, it has a rental rate of 25.3%, indicating a moderate demand for rental properties. The median income of $105,208 is notably high for such a small population, suggesting a relatively affluent community despite the lack of data on median home values.
The voucher economics in ZIP 58762 are particularly interesting. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $880, whereas the current market rent, according to the Census ACS, is significantly lower at $485. This discrepancy means that landlords could potentially benefit from participating in the Section 8 program, as they would receive higher rents than the current market rate. However, the decision should be weighed against the administrative burden and potential challenges associated with the program.
The data signature for ZIP 58762 reads as stable, with a high median income supporting the local economy. The relatively low number of renters suggests a community where homeownership is prevalent, but the opportunity for landlords to capitalize on the higher FMR through Section 8 vouchers provides a strategic advantage. Given these factors, landlords and small-portfolio investors should consider the benefits of the Section 8 program to enhance their property's attractiveness and profitability in this ZIP code.
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.