Location: Lake County, SD | Metro: Lake County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 57050 within the Lake County, SD metro area presents a unique investment opportunity for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the metro scope, as of fiscal year 2026, is set at $990. However, due to the lack of available data on the current market rent for this specific area, it's challenging to provide a direct comparison.
Based on the HUD FMR alone, voucher tenants in ZIP 57050 would generally cashflow at the FMR rate, assuming that the $990 covers the average rental cost for the area. Without specific market rent data, it's reasonable to infer that voucher tenants might only cashflow marginally or require premium units to fully cover expenses and generate profit.
The median home value for ZIP 57050 is also not available, which makes deriving an exact rent-to-price ratio impossible. However, the absence of this data does not necessarily indicate a weak market; rather, it suggests a niche market where home values might be less relevant compared to rental properties.
In terms of days on market (DOM) and price-cut share, the data is again not available. This could imply that the rental market is relatively stable, with properties being leased out quickly without significant price adjustments. Alternatively, it could mean that the market is underreported or less active, leading to fewer transactions and thus less data.
The strongest angle for investors in ZIP 57050 appears to be stability. Given the limited data on market fluctuations and the predictable nature of Section 8 vouchers, landlords can expect consistent cash flow and fewer risks associated with tenant turnover and rent collection.
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.