Location: Williams County, ND | Metro: Williams County, ND
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,810 | $359,509 | 0.5% | F |
| 4BR | $1,840 | $415,462 | 0.44% | F |
U.S. Census Bureau data (2024)
ZIP code 58801, located within the Williams County, ND metro area, presents distinct characteristics when compared against the broader county metrics. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,200. In contrast, ZIP 58801's market rent stands slightly above this mark at $1,309, indicating that it commands a premium over the average rental rate for the region.
The median home value in ZIP 58801 is $364,341, which is higher than the typical home value found in other ZIP codes within Williams County, ND. This suggests that 58801 is a premium sub-market within the larger metro area, offering more expensive housing options compared to the average.
A key point of interest is the renter share of 49.7%, which is notably high for a ZIP code with such a high median home value. Typically, areas with lower home values have higher renter shares due to affordability concerns. However, in ZIP 58801, despite the elevated home values, nearly half of the residents are renters. This divergence could signal an attractive environment for Section 8 tenants, making it a potential sweet spot for landlords who cater to this demographic.
To summarize, ZIP 58801 is a premium sub-market within Williams County, ND, characterized by higher-than-average rental rates and home values. Its relatively high renter share, combined with elevated home values, suggests a unique dynamic where it might still attract government-subsidized housing tenants, creating opportunities for landlords and small-portfolio investors looking to capitalize on the local rental market trends.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.