Location: Bon Homme County, SD | Metro: Bon Homme County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
ZIP code 57066, located within Bon Homme County, SD, presents a unique rental market scenario when compared against the typical characteristics of ZIP codes within the same county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950. This figure serves as a benchmark for what is considered fair rent across the county, established by HUD for various purposes including setting payment standards for housing assistance programs.
The actual market rent for ZIP 57066 stands at $753, which is notably lower than the FMR. This suggests that 57066 could be classified as a value pocket within its metro area. Landlords and small-portfolio investors should take note of this discrepancy, as it indicates a potential opportunity for attracting tenants who benefit from Section 8 vouchers, which typically cover rents up to the FMR level. The lower market rent means that properties here can potentially be rented out at rates covered by Section 8 without significant adjustments to pricing.
Additionally, the renter share in ZIP 57066 is 12.2%. While this percentage alone doesn't provide enough context to determine if it's higher or lower than the county average, the combination of a below-FMR market rent and a relatively stable renter share points towards an environment where there might be a concentration of voucher holders or low-income renters. This can be particularly advantageous for landlords interested in participating in the Section 8 program, as it suggests a steady demand for affordable rental units.
The absence of data on home values does not allow for direct comparison between the rental market and homeownership costs within ZIP 57066. However, given the below-average market rent relative to the FMR, and assuming that home values in the area are also lower than the county average, this would further reinforce the idea that 57066 is indeed a value pocket. Lower home values often correlate with lower rental prices, making such areas attractive for those seeking affordable living options.
In conclusion, based on the available data, ZIP 57066 appears to be a value pocket within the Bon Homme County, SD metro. Its lower-than-FMR market rent, combined with a notable renter share, makes it a prime location for landlords and investors looking to participate in the Section 8 program or cater to the needs of low-income renters. This positioning offers a strategic advantage in terms of attracting a consistent tenant base.
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.