Location: Williams County, ND | Metro: Williams County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,920 |
| 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 the Section 8 program in ZIP code 58853 reveals a significant financial opportunity for landlords and small-portfolio investors due to the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area for fiscal year 2026 is set at $1,270, while the average market rent, as per Census ACS data, stands at $617. This creates a gap of $653 per month, which translates into a 105.9% premium for voucher tenants over the typical market rent.
The high FMR compared to the market rent means that landlords who accept Section 8 vouchers can expect to receive significantly higher rents than what they might charge non-voucher tenants. This makes the ZIP code a prime location for a yield play, where the rental income from voucher tenants exceeds the prevailing market rates, thus providing a better return on investment.
However, it's crucial to anchor this analysis in the broader context of the ZIP code. With 31.3% of residents being renters, there is a notable demand for rental properties. The median household income of $107,969 suggests that residents have a reasonable economic base, which could support higher rents. Yet, the lack of data on median home values indicates that homeownership might be less prevalent or less tracked in this area, potentially skewing the rental market dynamics.
The substantial gap between FMR and market rent in 58853 presents a clear advantage for landlords willing to participate in the Section 8 program. They can benefit from receiving rents closer to the FMR, thereby increasing their monthly cash flow and overall property yields. This is particularly advantageous given the current market conditions where rents are notably lower than what the government deems fair for the area.
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.