Location: Moody County, SD | Metro: Brookings County, SD
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $261,191 | 0.45% | F |
| 3BR | $1,630 | $329,938 | 0.49% | F |
| 4BR | $1,980 | $364,365 | 0.54% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 57071, which includes Volga, South Dakota, is set at $1,040 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, meaning it is the maximum amount the government will pay towards a tenant's rent. However, this does not necessarily reflect the actual rent you can charge. According to recent Census data, the average rent in the area is $1,112, indicating that there is a slight premium over the FMR.
The demand for rentals in Volga is robust, with 39.0% of residents being renters. This high percentage suggests that there is a significant portion of the population looking for affordable housing options, making Section 8 a viable choice for landlords and small-portfolio investors. The median household income in the area is approximately $330,972, which is likely an error in the data provided and should be interpreted cautiously. Typically, such a high figure would not align with the average rent levels. It's important to cross-reference this information with other reliable sources to ensure accuracy.
Before proceeding with a Section 8 rental, verify that your property meets the required standards for habitability and safety. This is crucial because the housing authority will inspect the unit to ensure it complies with these standards before approving the tenancy. Ensuring your property is up to code not only guarantees approval but also provides a safe living environment for tenants, reducing the risk of future issues.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.