Location: Yankton County, SD | Metro: Bon Homme County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 57059, located in Yankton County, SD, presents a favorable environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $930 per month for fiscal year 2026, which is significantly higher than the current market rent of $599 based on Census ACS data.
This discrepancy indicates that voucher tenants can indeed cashflow at the FMR level, providing a stable income source for property owners. In fact, given the substantial gap between the HUD FMR and the actual market rent, voucher holders can afford units even above the average market rate, suggesting a positive cashflow potential for landlords with premium units.
The median home value in the area is currently not available, making it challenging to derive an exact rent-to-price ratio. However, the absence of this data does not detract from the attractiveness of the rental market. With the HUD FMR well above the typical market rent, the focus should remain on securing reliable, long-term tenants through the Section 8 program.
The days on market (DOM) and price-cut share data are also not available, but they would likely be irrelevant given the strong rental market dynamics. The key factor here is the disparity between the HUD FMR and the local market rent, which supports a robust cashflow scenario for investors.
In summary, the strongest angle for Section 8 investors in ZIP code 57059 is cashflow. The HUD FMR of $930 allows for significant financial benefit over the current market rent of $599, ensuring steady returns without the need for extensive renovations or high-end properties.
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.