Location: Moody County, SD | Metro: Lake County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
0.0% of the population in ZIP code 57057 rents their homes, indicating a predominantly owner-occupied area. This statistic aligns with the $71,500 median income, which suggests residents have the financial capability to purchase rather than rent properties. Despite the lack of specific data on market rent and median home values, the $940 Fair Market Rent (FMR) set for metro areas in fiscal year 2026 provides a benchmark for rental pricing in the region. Given the low percentage of renters and the absence of information regarding the days on market (DOM) and price-cut share, it's reasonable to infer that the housing market in 57057 is stable and less competitive for rentals. Landlords and small-portfolio investors should consider the FMR as a guideline for setting rental rates, ensuring they remain competitive while maximizing returns. The median income figure supports the notion that tenants might be sensitive to rental costs, making it imperative for investors to manage expenses efficiently to maintain profitability at or below the FMR. In conclusion, the data points toward a favorable environment for property ownership and conservative rental investments, with a clear focus on adhering to the established FMR.
Section 8 Verdict: ZIP 57057 is suitable for conservative rental investments, with a focus on maintaining rents at or slightly below the $940 FMR.
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.