Location: Ward County, ND | Metro: Ward County, ND HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 58785 does not work in favor of landlords based on the available data. The Fair Market Rent (FMR) set at $1,410 for the metro area for fiscal year 2026 is a critical benchmark. However, the absence of specific market rent data means that we cannot directly compare it against the FMR. This gap in information makes it challenging to assess whether landlords can charge rents that cover costs and provide a profit margin.
Regarding acquisition affordability, the median home value of $334,962 offers a reasonable entry point for investment properties. Despite the lack of detailed data on days on market (DOM) and the percentage of homes that have been subject to price cuts, the median home value suggests that the area remains relatively affordable compared to other regions. Landlords can secure properties without facing extremely high initial investments, which could be beneficial in a less populated area.
Tenant demand is low in ZIP 58785, with a total population of 1,816 and only 5.2% of residents being renters. This indicates a limited pool of potential tenants, which could make it difficult to consistently lease properties. A smaller renter share implies that most people in the area either own their homes or live in other housing arrangements, reducing the overall demand for rental properties.
In summary, while the median home value of $334,962 makes property acquisition relatively affordable, the lack of market rent data and the low tenant demand suggest that investing in ZIP 58785 may not be financially viable. The small number of renters and the absence of specific local rental pricing information create significant barriers to achieving positive cash flow from rental properties in this area. Therefore, landlords and small-portfolio investors should approach this market with caution, focusing instead on areas with higher renter populations and clearer market rent 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.