Location: Moody County, SD | Metro: Moody County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The market in ZIP code 57065 presents a dynamic equilibrium between rental and ownership costs, with clear indicators of both supply and demand factors at play. The Fair Market Rent (FMR) for the area stands at $930 for the fiscal year 2026, according to HUD's latest data. This figure reflects the rental market's valuation under government standards, which can influence eligibility for assistance programs like Section 8.
In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is $757. This suggests that while there may be some upward pressure on rents due to government benchmarks, the natural market forces keep the average rent lower. This discrepancy could indicate a relatively stable market where landlords are competitive, but not necessarily oversupplied.
The median home value in ZIP 57065 is $300,302. This figure provides insight into the homeownership segment, indicating that property values are within a moderate range, neither excessively high nor low. It suggests that the area might attract first-time buyers and those seeking affordable homeownership options.
A key metric to consider is the 21.8% share of renters in the area. This percentage indicates a substantial number of residents who prefer or require rental housing, which can exert long-term pressure on the rental market. With a significant portion of the population as renters, it implies ongoing demand for rental properties, which landlords should take into account when setting their pricing strategies.
While specific data points such as the percentage of price-cut share and days on market (DOM) are not available, the combination of a moderate median home value and a notable rental share suggests a balanced market. Landlords and small-portfolio investors should focus on understanding the local economic conditions, employment rates, and demographic trends to gauge whether the market leans towards an excess of supply or a shortage of rental units.
The interplay between these elements—rental costs, homeownership values, and the proportion of renters—defines the market's current state. For investors, the presence of a significant rental market share means that there is a steady demand for rental properties, which can provide consistent cash flow and investment opportunities. However, the gap between FMR and market rent also signals the need for competitive pricing to attract tenants without relying on government subsidies.
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.