Location: Roberts County, SD | Metro: Grant County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The classification of ZIP code 57216 hinges upon analyzing its yield and stability metrics. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $940, which represents the average fair market rent for the region. However, the specific market FMR for ZIP 57216 is $790. This suggests that rental properties in this ZIP code offer a slightly lower yield compared to the broader metro area.
When we consider the median home value of $255,984, it indicates a moderate investment cost for residential properties. Coupled with the market FMR, this implies that landlords can expect a reasonable return on their investment, although not as high as areas with higher rents. The yield in ZIP 57216 is thus moderate, given the balance between property costs and rental income.
Moving onto stability, the ZIP code has a renter population comprising 16.8% of its total residents. While this figure is relatively low, it does not necessarily imply instability; rather, it points towards a smaller potential pool of tenants. The median household income is $88,203, suggesting that those who do rent in this area have a decent financial standing, which could contribute to timely rent payments and overall tenant reliability.
The lack of data on the number of days on market (DOM) for rentals means there's an incomplete picture regarding how quickly units are typically filled. However, assuming a typical scenario where a stable income level correlates with quicker leasing periods, we can infer that the stability aspect leans towards being moderate.
In conclusion, ZIP 57216 appears to be a zone offering steady cash flow rather than high-yield opportunities. The combination of a moderate rent-to-property-value ratio and a decent median income supports this classification. It is not a flip-style market due to the lower percentage of renters and the absence of rapid turnover indicators. Instead, it provides a balanced environment for landlords and small-portfolio investors seeking reliable, long-term returns.
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.