Location: Mountrail County, ND | Metro: McKenzie County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
U.S. Census Bureau data (2024)
In ZIP code 58763, there are several notable risks for landlords considering Section 8 investments. First, tenant turnover could be higher due to the significant gap between the market rent of $850 and the Fair Market Rent (FMR) of $1,220 for fiscal year 2026, which is based on the metro area. This disparity suggests that tenants might seek better rental deals outside of Section 8, leading to increased churn and associated costs.
Vacancy exposure is another concern. With no available data on days on market (DOM), it's difficult to predict how long properties might remain vacant. This uncertainty can lead to financial strain, as landlords must cover mortgage payments and other expenses without rental income during these periods.
The deferred-maintenance exposure is also noteworthy. Given the lack of data on typical home values, landlords should be cautious about the condition of their properties. The median income of $58,110 in the area indicates that many residents may struggle to afford maintenance costs, which could fall back on the landlord if not managed properly.
However, these risks are tempered by the high renter share of 45.2%. High renter density typically correlates with greater demand for rental housing, including those that accept Section 8 vouchers. This demand can stabilize occupancy rates and provide a steady stream of tenants who are committed to their housing assistance.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.