Location: Sioux County, IA | Metro: Sioux City, IA-NE-SD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The median home value for ZIP code 57034, located in Hudson, South Dakota, is approximately $164,000. This figure is based on recent real estate data and provides a benchmark for assessing potential investment opportunities.
For Section 8 analysis, consider the following two scenarios:
Using the annualized Fair Market Rent (FMR) for a 2-bedroom unit, which is set at $910 per month for fiscal year 2024, the implied gross yield can be calculated. Given the median home value, the gross yield would be around 6.8%.
In the absence of specific market rent data, we must rely on the FMR as an approximation. However, if market rents were higher, the gross yield would increase accordingly. For example, if the market rent for a similar property was $1,000 per month, the gross yield would be about 7.9%.
The 12.3% renter density suggests that while there is a significant number of renters, the majority of residents in ZIP 57034 might prefer homeownership. The N/A-day days on market (DOM) indicates incomplete data, but typically a lower DOM would favor quicker rental turnovers and potentially higher yields.
The more realistic scenario is likely the one using the FMR of $910, as it reflects the actual government-set rental assistance rates. While a gross yield of 6.8% is lower than the hypothetical 7.9%, it is grounded in current policy and represents a stable, predictable income stream for landlords and small-portfolio investors participating in the Section 8 program.
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.