Location: Ward County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 58781, which falls under the Ward County, ND HUD Metro FMR Area, is set at $1,080 for fiscal year 2026. This figure represents the maximum amount that a Section 8 tenant can pay for rent. In comparison, the market rent based on Census ACS data stands at $1,214. This means that landlords accepting Section 8 vouchers will only achieve cash flow neutrality or a slight positive cash flow with premium units or significant economies in property management.
The median home value in ZIP 58781 is not available, which makes deriving an exact rent-to-price ratio challenging. However, given the relatively low FMR compared to the market rent, it's evident that rental properties are more competitive in this area than homeownership options. The lack of specific data on days on market (DOM) and price-cut shares suggests that these metrics do not significantly impact the rent-versus-buy dynamics in this region. Nevertheless, the absence of such information implies a stable market where neither rapid turnover nor frequent price adjustments are common.
Investors should focus on stability as the strongest angle in this market. The consistent demand for rental housing, coupled with the predictability of Section 8 payments, offers a reliable income stream with minimal risk of vacancy or rent delinquency. While appreciation might be limited due to the rural nature of the area, the steady state of rental prices ensures that landlords can maintain a solid cash flow without the need for speculative growth.
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.