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McHenry County/Velva/58790

58790

ZIPSAFMR
McHenry County, ND
Zillow

ZIP Investment Score

71Below average

095130300
BRFMR
Eff. Rent
0 BR$730$730
1 BR$870$870
2 BR$1,050$1,050
3 BR$1,460$1,460
4 BR$1,760$1,760
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
$94,113

Cost breakdown

+Likely effective rent$1,050
HUD FMRUsed$1,050
Market rentN/A
Est. payment standardN/A
-Principal and interest-$476
Loan amount$75,290
Down payment$18,823
Rate6.50%
Term30 years
-Operating costs-$374
Property taxes-$94
Insurance-$175
Utilities$0
HOA$0
Management-$105
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,134(91.0% ROI)
Projected value
$101,349
Return breakdown
Property appreciation+$7,236
Loan principal paid down+$2,697
Rental cash flow+$7,200
5-year hold
+$29,178(155.0% ROI)
Projected value
$106,480
Return breakdown
Property appreciation+$12,367
Loan principal paid down+$4,810
Rental cash flow+$12,000
10-year hold
+$61,822(328.4% ROI)
Projected value
$120,473
Return breakdown
Property appreciation+$26,360
Loan principal paid down+$11,462
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 58790 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 58790 (Velva, ND) is $1,050 a month. That is up 11.7% from $940 in FY 2026. Velva is in the McHenry 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 $1,014. Among 20 ZIP codes in McHenry County, 58790 is tied for the 5th-highest two-bedroom rent (county range $1,010–$1,440). The median county two-bedroom FMR in North Dakota is $1,014, so ZIP 58790 is 4% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 58790
BedroomsFY 2027Change90–110% range
Studio$730+10.6%$657–$803
1BR$870+14.5%$783–$957
2BR$1,050+11.7%$945–$1,155
3BR$1,460+10.6%$1,314–$1,606
4BR$1,760+11.4%$1,584–$1,936

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 58790
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$730$870$1,050$1,460$1,760
FY 2026$660$760$940$1,320$1,580
FY 2025$700$710$930$1,250$1,560
FY 2024area FMR$692$696$859$1,039$1,458
FY 2023area FMR$715$721$826$1,130$1,370

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

Two-bedroom rent in nearby McHenry County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 58790
58740$1,220+16.2%
58741$1,010−3.8%
58744$1,010−3.8%
58748$1,010−3.8%
58758$1,190+13.3%
58762$1,010−3.8%
58768$1,0500.0%
58778$1,010−3.8%
58788$1,020−2.9%
58789$1,010−3.8%
58790Current$1,050—
58792$1,010−3.8%

Questions about ZIP 58790 rents

How much will Section 8 pay for a two-bedroom in ZIP 58790?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 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 58790 in?

ZIP 58790 is in the McHenry County, ND HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 58790 for FY 2027?

The two-bedroom FMR rose 11.7%, from $940 in FY 2026 to $1,050 in FY 2027. Since FY 2025 it has risen 12.9%.

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