Location: Clay County, SD | Metro: Sioux City, IA-NE-SD MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $378,689 | 0.35% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 57010 presents a dynamic environment characterized by a specific set of economic indicators. The Fair Market Rent (FMR) for the area is set at $920 for fiscal year 2024, which serves as a benchmark for rental pricing. While the exact market rent and the percentage of price-cut share remain unspecified, the median home value stands at $372,939. This suggests a relatively stable housing market, but without historical data, it's challenging to definitively state whether supply outpaces demand or vice versa.
The significant 33.9% renter share indicates that nearly one-third of the households in 57010 are renters, which can imply ongoing long-term housing pressures. In areas with high renter shares, there often exists a persistent need for affordable housing options. Landlords and small-portfolio investors should consider this figure as an indicator of potential demand stability, given that a substantial portion of the population relies on rental properties for housing.
Although the data does not provide a direct comparison between current supply and demand, the presence of a defined FMR and the absence of specific market rent figures could suggest that the local rental market closely aligns with federal guidelines. This alignment might indicate a balanced market where rents are neither significantly higher nor lower than the government's suggested fair market rates.
Investors should also be aware that the median home value, while a useful metric, does not necessarily reflect the rental market's conditions. It's important to monitor both rental and sales markets to understand the full scope of housing dynamics in 57010. With a high renter share, maintaining a competitive edge in terms of rental pricing and property quality will be crucial for landlords aiming to attract tenants in this market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.