FMR is below market; voucher rent may lag private rents.
0.53
1 BR
1 BR- 58047
0.62ratio
FMR$1,230
Market$1,980
vs market-$750
FMR is below market; voucher rent may lag private rents.
0.62
2 BR
2 BR- 58047
0.72ratio
FMR$1,500
Market$2,070
vs market-$570
FMR is below market; voucher rent may lag private rents.
0.72
3 BR
3 BR- 58047
0.98ratio
FMR$2,080
Market$2,130
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.98
4 BR
4 BR- 58047
1.13ratio
FMR$2,510
Market$2,220
vs market+$290
FMR is above market; underwrite to market rent.
1.13
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Horace, ND fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Horace, ND is $1,500 a month. That is up 42.9% from $1,050 in FY 2026. Horace is in the Fargo, ND-MN MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,104. The median county two-bedroom FMR in North Dakota is $1,014, so Horace is 48% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Horace, ND
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$730
$1,060
+45.2%
$954–$1,166
1BR
$870
$1,230
+41.4%
$1,107–$1,353
2BR
$1,050
$1,500
+42.9%
$1,350–$1,650
3BR
$1,460
$2,080
+42.5%
$1,872–$2,288
4BR
$1,760
$2,510
+42.6%
$2,259–$2,761
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Horace, ND
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,060
$1,230
$1,500
$2,080
$2,510
FY 2026
$730
$870
$1,050
$1,460
$1,760
FY 2025
$640
$770
$930
$1,310
$1,580
FY 2024
$630
$750
$910
$1,280
$1,540
FY 2023
$590
$700
$850
$1,210
$1,450
Questions about Horace, ND rents
How much will Section 8 pay for a two-bedroom in Horace, ND?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,104, which applies unless the housing authority uses Small Area FMRs, that basic range is $994 to $1,214 a month; under the ZIP-level Small Area FMR of $1,500 it would be $1,350 to $1,650. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Horace, ND in?
Horace, ND is in the Fargo, ND-MN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,104.
How much did fair market rent change in Horace, ND for FY 2027?
The two-bedroom FMR rose 42.9%, from $1,050 in FY 2026 to $1,500 in FY 2027. Since FY 2023 it has risen 76.5%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set