Section 8 Fair Market Rent (FMR) for ZIP 58838 - 2027

Location: McKenzie County, ND | Metro: McKenzie County, ND

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,180
1 Bedroom	$1,200
2 Bedrooms	$1,440
3 Bedrooms	$1,810
4 Bedrooms	$2,310
5 Bedrooms	$2,680
6 Bedrooms	$3,002
7 Bedrooms	$3,242
8 Bedrooms	$3,404

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

252

Median Household Income

$59,392

Housing Units

164

Renter Percentage

35.4%

Occupancy Rate

87.8%

Renter Occupied

The analysis of ZIP code 58838 reveals a unique blend of yield and stability that positions it as a moderate opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,350, which is significantly lower than the market rent of $2,176. This discrepancy suggests a potential for higher rental yields if properties can be acquired at or below the FMR.

To further understand the market dynamics, consider the following:

Rental Yield: With the FMR at $1,350 and the market rent at $2,176, the difference indicates a strong possibility for achieving above-average rental income. Landlords can expect to generate a premium over the FMR when leasing units at market rates.
Market Stability: The ZIP code has a rental population of 35.4%, which is a moderate figure indicating a balanced mix of renters and homeowners. The lack of data on days on market (DOM) makes it challenging to assess the speed at which properties turn over, but the median household income of $59,392 suggests a stable economic base capable of supporting rent payments.

Given these metrics, ZIP 58838 does not fully align with the characteristics of a high-yield/low-stability flip-style market. Instead, it leans towards being a steady-cashflow zone, particularly due to the relatively high median income, which supports sustained rental demand. However, the significant gap between FMR and market rent also opens up opportunities for higher returns, making it an attractive option for investors willing to navigate a somewhat mixed market profile.

The key figures driving this assessment are the $1,350 FMR compared to the $2,176 market rent, and the $59,392 median household income. These numbers indicate a market where steady cash flow can be expected, while still offering the potential for above-average yields through strategic acquisitions and pricing.

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.