Location: Mountrail County, ND | Metro: McLean County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 58770, located in Mountrail County, ND, does not work favorably for landlords. The Fair Market Rent (FMR) for the metro area set at $870 for fiscal year 2026 is higher than the actual market rent reported by the Census ACS, which stands at $727. This discrepancy suggests that landlords may find it challenging to charge the FMR due to lower tenant willingness to pay in this region.
Acquisition of properties in this ZIP code is not financially feasible given the lack of specific data on median home values, days on market (DOM), and the percentage of homes requiring price cuts. Without these critical figures, it's impossible to assess the affordability and potential profitability of acquiring new rental units in this area.
Tenant demand is present but limited. With a total population of 1,369, the ZIP code has a substantial 42.2% renter share, indicating a considerable portion of the local residents are looking for rental housing. However, the small overall population means the number of potential tenants is relatively low, which could impact the ability to fill vacancies consistently.
Verdict: ZIP code 58770 presents a challenging investment scenario for landlords and small-portfolio investors. The gap between the FMR and market rent indicates difficulty in achieving desired rental income levels. Furthermore, the absence of key metrics such as median home value and days on market makes assessing the cost and feasibility of property acquisition problematic. While there is a significant renter share, the small population size limits the pool of potential tenants, making it less attractive for investment compared to areas with higher population and clearer financial indicators.
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.