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Rental Insights for ZIP Code 58704 (Minot Afb, ND)

Housing Rentals in ZIP Code 58704 (Minot Afb, ND)

58704 ZIP Code in North Dakota

A Deep Analysis of Housing Rentals in the ZIP Code 58704

The 58704 ZIP Code is principally located in Minot Afb, ND in Ward County. This region of North Dakota has an estimated median housing rent of $1,605 per month. Approximately 99.3% of housing units in this Ward County ZIP Code are occupied by renters, while the region has an estimated rental unit vacancy rate of 2.9%.

The median rent in ZIP Code 58704 of $1,605 per month is 94% higher than the aggregate North Dakota median monthly rent of $826, and is 51% higher than the $1,062 the median monthly rent in the U.S. overall. Approximately 38.2% of residents in ZIP Code 58704 pay between $1,500 and $1,999 per month for rent. That is 479% higher than in North Dakota overall, in which 6.6% of total state residents pay between $1,500 and $1,999 per month for housing. Only 6.7% of renters in this Minot Afb, ND region pay between $500 and $999 per month for rent.

ZIP Code 58704 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 58704

See the chart below for a comparison of monthly rental costs in ZIP Code 58704, North Dakota, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 58704 along with those in the state of North Dakota and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 58704

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 58704 North Dakota U.S.
Less than $500 0.0% 13.1% 9.4%
$500 to $999 6.7% 55.8% 36.2%
$1,000 to $1,499 35.3% 22.3% 30.0%
$1,500 to $1,999 38.2% 6.6% 14.0%
$2,000 to $2,499 12.8% 1.1% 5.6%
$2,500 to $2,999 7.0% 0.6% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 58704

Renters in ZIP Code 58704 use an estimated 31.04% of their income to cover their monthly rent payments. That is about 17% higher than in North Dakota overall. The estimate for North Dakota overall is 26.54% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 58704 renters use about 4% more of their income to cover rent expense. Household income figures for ZIP Code 58704 come in lower than in North Dakota as a whole. The median annual household income in ZIP Code 58704 of $60,242 sits approximately 7% lower than the overall North Dakota median income of $64,894 and approximately 4% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 58704

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 58704, North Dakota, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 58704 along with the same calculations in the state of North Dakota and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 58704

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 58704 North Dakota U.S.
Less than 15.0 percent 5.8% 21.6% 13.1%
15.0 to 19.9 percent 11.9% 15.6% 12.9%
20.0 to 24.9 percent 16.8% 14.5% 12.9%
25.0 to 29.9 percent 11.5% 9.6% 11.6%
30.0 to 34.9 percent 14.7% 7.0% 9.1%
35.0 percent or more 39.2% 31.7% 40.5%

Household Income in ZIP Code 58704

See the table below for the regional comparison of annual household income in ZIP Code 58704.

Income ZIP 58704 North Dakota U.S.
Less than $10,000 1.5% 5.7% 6.0%
$10,000 to $14,999 0.0% 4.0% 4.3%
$15,000 to $24,999 7.7% 8.1% 8.9%
$25,000 to $34,999 11.8% 8.6% 8.9%
$35,000 to $49,999 11.5% 12.1% 12.3%
$50,000 to $74,999 28.2% 17.9% 17.2%
$75,000 to $99,999 20.8% 14.3% 12.7%
$100,000 to $149,999 13.8% 17.1% 15.1%
$150,000 to $199,999 2.9% 6.3% 6.8%
$200,000 or more 1.6% 5.9% 7.7%

Household Income in ZIP Code 58704

See the chart below for a comparison of annual household income figures in ZIP Code 58704, North Dakota, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 58704 alongside the same figures for the state of North Dakota and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 58704

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 58704.

ZIP 58704 North Dakota U.S.
Median Housing Rent $1,605 $826 $1,062
Renter-Occupied Housing Units 99.3% 37.6% 36.0%
Rental Vacancy Rate 2.9% 9.6% 6.0%
Average Size of Renter-Occupied Unit 3.00 1.99 2.49
Average # of Bedrooms Per Unit 3 2.84 2.75
Percent of Income Spent on Rent 31.04% 26.54% 29.83%
Per Capita Income $23,177 $36,062 $34,103
Median Household Income $71,016 $85,476 $88,607
Living Below the Poverty Line 2.3% 6.2% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 58704

In ZIP Code 58704 (Minot Afb, ND), and estimated 99.3% of housing units are occupied by renters. This region has an approximate rental vacany rate of 2.9%.

The per capita income in 58704 is estimated at $23,177, which goes along with an estimated median household income of $71,016. About 2.3% of residents in this Ward County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 3.00 occupants, while the units have an aggregate average size of 3 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 31.04% of their income on housing rental costs.

Rental FAQs for ZIP Code 58704

1

What is the median monthly rent in ZIP Code 58704?

Median rent for housing in ZIP Code 58704 in Ward County in North Dakota is approximately $1,605 per month.
2

Is it expensive to rent in ZIP Code 58704?

Rent in ZIP Code 58704 is higher than average in the state of North Dakota overall. The median monthly rent of $1,605 in ZIP Code 58704 is approximately 94% higher than the North Dakota median of $826. Additionally, median rent in this Minot Afb, ND region ($1,605) is about 51% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 58704?

High-priced rentals are not common in the Minot Afb, ND ZIP Code of 58704, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of North Dakota overall, approximately 0.5% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 58704?

Affordable rentals are less common in ZIP Code 58704 than in North Dakota overall. The percentage of housing rentals in ZIP Code 58704 costing $999 or less per month (6.7%) is approximately 90% lower than the North Dakota rate of 68.9% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 85% higher than the previously mentioned 58704 rate of 6.7%.
5

What is the most common cost range that rentals fall into in ZIP Code 58704?

The most common range for rental cost in ZIP Code 58704 is between $1,500 and $1,999 per month. About 38.2% of renters in 58704 pay in this range for monthly rent. In comparison, approximately 6.6% of renters in the state of North Dakota fall in the between $1,500 and $1,999 range, and 14.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 58704 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 58704 is lower than the rental vacancy rate in the state of North Dakota overall. Rental vacancy of 2.9% in ZIP Code 58704 is about 70% lower than the North Dakota rate of 9.6%. Looking more broadly, rental vacancy in this Minot Afb, ND region (2.9%) is an estimated 52% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 58704? How does it compare to other North Dakota regions?

Median household income in ZIP Code 58704 is lower than in the state of North Dakota overall. Annual household income of $60,242 in ZIP Code 58704 is about 7% lower than the North Dakota median of $64,894. Additionally, median household income in this Minot Afb, ND region ($60,242) is approximately 4% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 58704 spend on housing costs?

Renters in ZIP Code 58704 spend a higher amount of their income on rent costs than do renters in North Dakota overall. Renters in ZIP Code 58704 spend an estimated 31.04% of their income on rent payments, which is about 17% higher than the overall North Dakota estimated rate of 26.54%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 4% lower than the ZIP Code 58704 estimated rate of 31.04%.
9

Do renters in ZIP Code 58704 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 58704 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 58704 spending 30 percent or more of their income on rent costs (53.9%) is approximately 39% higher than the North Dakota rate of 38.7% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 9% lower than the aforementioned 58704 rate of 53.9%.
10

What is the average household size of renter-occupied units in ZIP Code 58704?

The average household size of renter-occupied units in ZIP Code 58704 is higher than in the state of North Dakota overall. Annual household size of 3.00 in ZIP Code 58704 is about 51% higher than the North Dakota median of 1.99. Additionally, median household size in this Minot Afb, ND region (3.00) is approximately 20% higher than median household size of 2.49 in the U.S. as a whole.