Location: Brookings County, SD | Metro: Brookings County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
To classify ZIP code 57007 on the axes of yield and stability, we must first establish the metrics available. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950. This figure provides insight into the rental yield potential but lacks context without comparative market data and median home values. For stability, we would typically examine renter percentages, days on market (DOM), and median income levels; however, these specific figures are currently unavailable.
The FMR of $950 suggests that properties in ZIP 57007 could generate significant rental income if they are priced competitively within this range. Without market rent data, it's difficult to assess whether this represents a high-yield scenario. In a high-yield market, rental rates often exceed FMRs, indicating strong demand and potentially higher returns. Conversely, if market rents are below the FMR, the yield might be lower, suggesting a less profitable rental environment.
In terms of stability, the absence of key data points such as the percentage of renters, average DOM, and median income makes it challenging to provide a precise classification. Typically, areas with a higher percentage of renters and shorter DOM periods indicate greater stability, as do higher median incomes which suggest a robust local economy capable of supporting consistent rental payments.
Given the limited data, ZIP 57007 appears to be a market with potential for good rental yields, driven by the established FMR. However, without additional metrics, it's impossible to definitively categorize it as either high-yield/low-stability or steady-cashflow. Landlords and small-portfolio investors should seek out more detailed local market analysis to make informed decisions about investment strategies in this area.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.