Location: Codington County, SD | Metro: Clark County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 57217 has a population of 142 individuals, with 31.9% being renters. This indicates that it is not a highly populated area but has a notable percentage of residents who rely on rental housing. The median household income in this ZIP is $64,125, which provides a baseline for assessing the financial capacity of potential tenants.
Unfortunately, specific market rent figures for ZIP 57217 are not available in the provided data. However, we can use the Fair Market Rent (FMR) as a benchmark. For fiscal year 2026, the FMR for the metro area is set at $930. Assuming market rents align closely with FMRs, a landlord could expect typical rents to be around this amount.
To understand the impact of these rents on local incomes, let's consider the median household income. If we take the FMR of $930 as indicative of market rent, then the average rent would consume approximately 14.5% of the median household income ($64,125). This calculation suggests that rent is relatively affordable compared to income levels in the area.
Given the 31.9% renter rate, the demand for rental properties is moderate. However, the presence of Section 8 vouchers could significantly influence the rental market. With a median income of $64,125, many residents might qualify for housing assistance programs, creating a pool of tenants who can leverage vouchers to secure housing. Landlords in this ZIP code should prepare to see a mix of tenants, some of whom will be able to pay market rates, while others will rely on Section 8 vouchers.
A landlord in ZIP 57217 should expect a tenant pool that includes both those paying market rent and those utilizing Section 8 vouchers. The combination of a moderate renter rate and a median income that supports qualification for housing assistance programs means there is likely a steady demand for rental units, particularly those that offer affordable rates. Given the limited population size, competition among landlords for tenants might be fierce, necessitating a balance between affordability and property quality to attract and retain tenants.
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.