58109

ZIPSAFMR

Cass County, ND

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$770	$800	5.8%
1 BR	$890	$870	4.5%
2 BR	$1,090	$1,200	5.1%
3 BR	$1,510	$1,660	4.6%
4 BR	$1,820	$2,000	4.4%
5 BR	$2,093	Not available	4.4%
6 BR	$2,407	Not available	4.4%
7 BR	$2,768	Not available	4.4%
8 BR	$3,183	Not available	4.4%

Purchase Price Calculator

Maximum purchase price

$116,403

Cost breakdown

+Likely effective rent$1,200

HUD FMR$1,090

Market rent$1,350

Est. payment standard (110%)Used$1,200

-Principal and interest-$589

Loan amount$93,122

Down payment$23,281

Rate6.50%

Term30 years

-Operating costs-$411

Property taxes-$116

Insurance-$175

Utilities$0

HOA$0

Management-$120

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$19,487(83.7% ROI)

Projected value

$125,353

Return breakdown

Property appreciation+$8,950

Loan principal paid down+$3,336

Rental cash flow+$7,200

5-year hold

+$33,246(142.8% ROI)

Projected value

$131,699

Return breakdown

Property appreciation+$15,296

Loan principal paid down+$5,950

Rental cash flow+$12,000

10-year hold

+$70,780(304.0% ROI)

Projected value

$149,006

Return breakdown

Property appreciation+$32,603

Loan principal paid down+$14,177

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.95ratio

FMR$770

Market$810

vs market-$40

FMR is near market; voucher and private rents are aligned.

0.95

1 BR

1.02ratio

FMR$890

Market$870

vs market+$20

FMR is near market; voucher and private rents are aligned.

1.02

2 BR

0.81ratio

FMR$1,090

Market$1,350

vs market-$260

FMR is below market; voucher rent may lag private rents.

0.81

3 BR

0.83ratio

FMR$1,510

Market$1,810

vs market-$300

FMR is below market; voucher rent may lag private rents.

0.83

4 BR

0.87ratio

FMR$1,820

Market$2,090

vs market-$270

FMR is below market; voucher rent may lag private rents.

0.87

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: --

ZIP 58109 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 58109 (Fargo, ND) is $1,090 a month. That is down 0.9% from $1,100 in FY 2026. Fargo 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. Among 35 ZIP codes in Cass County, 58109 is tied for the 11th-highest two-bedroom rent (county range $1,010–$1,500). The median county two-bedroom FMR in North Dakota is $1,014, so ZIP 58109 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 58109
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$760	$770	+1.3%	$693–$847
1BR	$910	$890	−2.2%	$801–$979
2BR	$1,100	$1,090	−0.9%	$981–$1,199
3BR	$1,530	$1,510	−1.3%	$1,359–$1,661
4BR	$1,850	$1,820	−1.6%	$1,638–$2,002

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 58109
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$770	$890	$1,090	$1,510	$1,820
FY 2026	$760	$910	$1,100	$1,530	$1,850
FY 2025	$690	$830	$1,000	$1,400	$1,680
FY 2024	$650	$780	$940	$1,320	$1,600
FY 2023	$630	$750	$910	$1,290	$1,550

Two-bedroom rent in nearby Cass County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 58109
58068	$1,060	−2.8%
58071	$1,010	−7.3%
58078	$1,240	+13.8%
58079	$1,090	0.0%
58102	$1,040	−4.6%
58103	$1,040	−4.6%
58104	$1,300	+19.3%
58105	$1,040	−4.6%
58106	$1,090	0.0%
58107	$1,090	0.0%
58108	$1,090	0.0%
58109Current	$1,090	—

Questions about ZIP 58109 rents

How much will Section 8 pay for a two-bedroom in ZIP 58109?

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 $1,090 it would be $981 to $1,199. 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 ZIP 58109 in?

ZIP 58109 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 ZIP 58109 for FY 2027?

The two-bedroom FMR fell 0.9%, from $1,100 in FY 2026 to $1,090 in FY 2027. Since FY 2023 it has risen 19.8%.

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

County fair market rent Fargo, ND fair market rent ND statewide rents What is SAFMR?Data sources