Location: Williams County, ND | Metro: Mountrail County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
U.S. Census Bureau data (2024)
The ZIP code 58794 stands out due to its unique demographic and economic characteristics. With only 148 residents, it has one of the smallest populations among the ZIP codes analyzed. The rental rate is exceptionally low at 5.0%, indicating that most residents own their homes. However, the median income of $97,500 is relatively high, suggesting that while few people rent, those who do have substantial financial resources.
The Federal Market Rent (FMR) for ZIP 58794 is set at $1,240 per month for fiscal year 2026, which is used to determine the payment standard for Section 8 Housing Choice Voucher holders. Unfortunately, the market rent data is currently unavailable, making it difficult to compare the FMR against local rental rates. This lack of market data can complicate decisions for landlords considering participation in the Section 8 program, as they cannot easily assess the potential gap between the voucher amount and market rents.
In terms of voucher economics, landlords in ZIP 58794 can expect to receive $1,240 per month for a unit rented to a voucher holder. This figure is critical for calculating the net income and determining if participating in the Section 8 program is financially viable. Given the high median income, there might be an opportunity for landlords to attract tenants who supplement the voucher payment with additional funds, but this would require further investigation into the local rental market.
The data signature for ZIP 58794 reads as stable. Despite the small population and low rental rate, the high median income suggests a steady financial base. However, the absence of market rent data introduces an element of uncertainty, which could make the ZIP code transitional in terms of housing economics. Landlords should proceed with caution, ensuring they understand the full implications of the FMR versus potential market rents before committing to the Section 8 program.
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.