Location: Ward County, ND | Metro: McHenry 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 analysis of ZIP code 58768 in Ward County, North Dakota, reveals several critical points for landlords and small-portfolio investors considering investment in this area.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,080. However, the lack of available market rent data means we cannot directly compare the two figures. This absence of market rent data is concerning as it suggests either limited rental activity or insufficient data collection, both of which could impact the viability of rental investments.
Moving on to the affordability of acquisitions, the analysis is hampered by the absence of specific data on median home values, days on market (DOM), and the percentage of homes that experienced price cuts. Without these figures, it's challenging to assess the financial feasibility of purchasing properties for rental purposes. Landlords and investors should seek additional local real estate data to make informed decisions about acquisition costs and potential risks.
The third question pertains to tenant demand. With a population of 241 and a 25.0% renter share, the total number of potential renters is approximately 60 individuals. This low number of potential tenants might indicate a limited market for rentals, suggesting that competition for tenants could be intense and vacancy rates might be higher compared to areas with larger populations.
Verdict: Investment in ZIP code 58768 presents challenges due to the limited data available on market rents and property acquisition costs. The small population size coupled with a modest renter share implies a narrow market for rental properties, which could lead to difficulties in attracting and retaining tenants. For landlords and small-portfolio investors, careful consideration of these factors is necessary before committing to investment in this area. If investing, focus on understanding the local rental dynamics and ensuring that rental prices align with the $1,080 FMR to maintain occupancy levels.
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.