Location: Yankton County, SD | Metro: Yankton County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The rent math in ZIP 57046 does not work favorably for landlords. The Fair Market Rent (FMR) for the metro area, set at $1,020 for fiscal year 2026, significantly exceeds the current market rent of $761 as reported by the Census ACS. This discrepancy suggests that landlords aiming to meet the FMR may struggle to find tenants willing to pay the higher rate.
Regarding property acquisition, the data is incomplete, with median home values, days on market (DOM), and the percentage of price cuts being listed as N/A. Without these key metrics, it's challenging to assess whether buying properties in this ZIP code is an affordable strategy for small-portfolio investors. However, the absence of these figures might indicate limited recent activity in the housing market, which could be a sign of either a stable market or a lack of new listings.
Tenant demand in ZIP 57046 is relatively low. With a total population of 521, only 14.3% are renters. This translates to approximately 74 potential rental households. Such a small pool of renters means that competition among landlords could be intense, and filling vacancies might take longer than in areas with a higher renter share.
In conclusion, ZIP 57046 presents a challenging environment for landlords and small-portfolio investors due to the unfavorable rent math and limited tenant demand. The lack of detailed acquisition data further complicates the decision-making process, indicating that this area may not be ideal for investment without additional research into local market dynamics and property management costs. Landlords should carefully consider these factors before committing to rental properties in this ZIP code.
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.