Location: McKenzie County, ND | Metro: McKenzie County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 58847, located in McKenzie County, North Dakota, provides insights into the viability of rental investments for landlords and small-portfolio investors.
The rent math does not work favorably due to the lack of available market rent data. The Fair Market Rent (FMR) for the area is set at $1,220 for the fiscal year 2026, but without a comparison to actual market rents, it's challenging to assess profitability accurately. Landlords should seek additional local market research to confirm if this FMR aligns with what tenants are willing to pay.
Acquisition affordability is uncertain given that the median home value, days on market (DOM), and the percentage of homes needing price cuts are all not reported. This absence of key financial indicators makes it difficult to gauge how competitive property prices are in the area and whether they represent a good investment opportunity. Investors must conduct further investigation to understand the current real estate market conditions.
Tenant demand is moderate in ZIP 58847. With a population of 209 and a renter share of 55.1%, there is a reasonable pool of potential renters. However, the small population size limits the number of prospective tenants, which could impact the ability to fill vacancies quickly. Despite this, the high renter share suggests a steady demand for rental properties.
In conclusion, while there is a notable demand for rentals in ZIP 58847, the lack of specific market rent data and other critical real estate metrics hinders a comprehensive assessment of investment feasibility. Landlords and small-portfolio investors should proceed with caution and perform thorough local market research before making any decisions. The high renter share provides a positive outlook, but the small population size poses a risk. Ensuring that the FMR of $1,220 matches or exceeds market rent expectations will be crucial for achieving satisfactory returns on investment.
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.