Location: Sioux Falls, SD | Metro: Sioux Falls, SD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
U.S. Census Bureau data (2024)
To integrate ZIP 57197 into a Section 8 portfolio strategy, consider it primarily as a cash-flow anchor. The Family Monthly Income (FMI) for ZIP 57197 in fiscal year 2024 is set at $1030, which serves as a benchmark for rental rates under the Section 8 program. Given that the market rate and median home value data are currently unavailable, the FMR provides a reliable floor for rental income, ensuring steady cash flow.
The HUD-determined Fair Market Rent (FMR) acts as a safety net, guaranteeing that landlords will receive a minimum payment per unit. This makes ZIP 57197 a stable investment option, especially when other parts of your portfolio might face volatility due to market fluctuations. Landlords can rely on the government's subsidy to cover the gap between the actual market rate and the FMR, thus anchoring their cash flow.
While data on price-cut shares, days on market (DOM), and median income are not available, the absence of these metrics does not detract from the potential of ZIP 57197 as a cash-flow anchor. The consistent demand for affordable housing and the reliability of HUD payments make it an attractive option for those looking to stabilize their overall financial performance.
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.