Location: Yankton County, SD | Metro: Bon Homme County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
U.S. Census Bureau data (2024)
The ZIP code 57063 represents a rural area with a total population of 882 individuals. Only 15.8% of the residents are renters, indicating a predominantly owner-occupied community. The median household income stands at $92,500, reflecting a relatively affluent demographic. Median home values are set at $210,656, suggesting that homeownership is a significant part of the local economy and lifestyle.
The rental market in ZIP 57063 contrasts sharply with the overall economic indicators. According to Census ACS data, the average market rent is only $540 per month. This is notably lower than the Fair Market Rent (FMR) of $1,190, which is applicable for the metro area in fiscal year 2026. This discrepancy highlights an opportunity for investors who can offer quality rental properties at competitive rates while still benefiting from the higher voucher amounts available through the Section 8 program.
Given these conditions, ZIP 57063 is better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The potential exists to improve existing rental units or develop new ones that can command rents closer to the FMR levels without significantly exceeding the market's affordability threshold. For those willing to invest in property improvements and management, this ZIP code offers a niche market where demand for affordable housing meets the financial support of Section 8 vouchers, creating a scenario ripe for strategic investment.
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.