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Ward County/Minot/58703

58703

ZIPSAFMR
Ward County, ND
Zillow

ZIP Investment Score

76Below average

095130300
BRFMR
Eff. Rent
0 BR$730$800
1 BR$870$950
2 BR$1,050$950
3 BR$1,460$1,610
4 BR$1,760$1,940
5 BR$2,024Not available
6 BR$2,328Not available
7 BR$2,677Not available
8 BR$3,078Not available

Purchase Price Calculator

Maximum purchase price
$79,253

Cost breakdown

+Likely effective rent$950
HUD FMR$1,050
Market rentUsed$950
Est. payment standard (94%)$990
-Principal and interest-$401
Loan amount$63,402
Down payment$15,851
Rate6.50%
Term30 years
-Operating costs-$349
Property taxes-$79
Insurance-$175
Utilities$0
HOA$0
Management-$95
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,565(98.2% ROI)
Projected value
$85,347
Return breakdown
Property appreciation+$6,094
Loan principal paid down+$2,272
Rental cash flow+$7,200
5-year hold
+$26,465(167.0% ROI)
Projected value
$89,668
Return breakdown
Property appreciation+$10,415
Loan principal paid down+$4,051
Rental cash flow+$12,000
10-year hold
+$55,850(352.4% ROI)
Projected value
$101,451
Return breakdown
Property appreciation+$22,198
Loan principal paid down+$9,652
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.48
1 BR
0.88
2 BR
1.11
3 BR
0.77
4 BR
0.83
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 58703 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 58703 (Minot, ND) is $1,050 a month. That is down 9.5% from $1,160 in FY 2026. Minot is in the Ward County, ND HUD Metro FMR Area. 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 $1,049. Among 26 ZIP codes in Ward County, 58703 is tied for the 15th-highest two-bedroom rent (county range $1,050–$1,460). The median county two-bedroom FMR in North Dakota is $1,014, so ZIP 58703 is 4% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 58703
BedroomsFY 2027Change90–110% range
Studio$730−8.7%$657–$803
1BR$870−9.4%$783–$957
2BR$1,050−9.5%$945–$1,155
3BR$1,460−9.3%$1,314–$1,606
4BR$1,760−9.7%$1,584–$1,936

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 58703
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$730$870$1,050$1,460$1,760
FY 2026$800$960$1,160$1,610$1,950
FY 2025$710$790$1,020$1,430$1,710
FY 2024area FMR$681$744$978$1,378$1,660
FY 2023area FMR$685$763$1,005$1,428$1,712

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Ward County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 58703
58701$1,0500.0%
58702$1,060+1.0%
58703Current$1,050—
58704$1,460+39.0%
58705$1,230+17.1%
58707$1,0500.0%
58716$1,090+3.8%
58718$1,150+9.5%
58721$1,0500.0%
58722$1,0500.0%
58725$1,0500.0%
58731$1,0500.0%

Questions about ZIP 58703 rents

How much will Section 8 pay for a two-bedroom in ZIP 58703?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,049, which applies unless the housing authority uses Small Area FMRs, that basic range is $944 to $1,154 a month; under the ZIP-level Small Area FMR of $1,050 it would be $945 to $1,155. 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 58703 in?

ZIP 58703 is in the Ward County, ND HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,049.

How much did fair market rent change in ZIP 58703 for FY 2027?

The two-bedroom FMR fell 9.5%, from $1,160 in FY 2026 to $1,050 in FY 2027. Since FY 2025 it has risen 2.9%.

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 rentMinot, ND fair market rentND statewide rentsWhat is SAFMR?Data sources