Location: Roberts County, SD | Metro: Marshall County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 57224 presents a unique opportunity for both landlords and small-portfolio investors. The median home value, while currently unavailable, can be inferred from the other data points provided. With a significant percentage of listings being reduced and a median days on market (DOM) figure also missing, it suggests that there might be a slight imbalance favoring buyers at present. This scenario indicates that sellers may need to adjust their prices to match market conditions, thereby reducing their pricing power.
On the rental side, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $930, whereas the current market rent is $663 according to the Census ACS data. This substantial gap signals potential growth in rental income for property owners in the coming years. As the rental market adjusts towards the FMR, landlords can expect an increase in their rental yields, making it a favorable time to hold properties for long-term investment.
For long-hold investors, the setup implied by the data suggests a realistic appreciation thesis. Although specific dollar figures for appreciation are not available, the trend towards higher rents and the likely adjustment in home values to align with rental market dynamics point towards gradual price increases. This alignment will benefit those who can afford to wait out the current period of reduced pricing power and capitalize on future market adjustments.
In summary, the current state of the real estate market in ZIP 57224, characterized by reduced listings and a growing disparity between current market rents and the projected FMR, supports a strategy focused on long-term holding and appreciation. Landlords and small-portfolio investors should prepare for a period where they may see limited immediate pricing power but substantial long-term gains as the market adjusts.
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.