Location: Clark 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 57225 stands out within its county due to its relatively low population of 1,833 residents, with 23.1% of them renting their homes. The median income for the area is $66,875, which places it in a moderate income bracket. Notably, the median home value in ZIP 57225 is $194,055, indicating that homeownership is somewhat affordable compared to other regions.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930. This figure contrasts with the current market rent, which is recorded at $765 according to the Census ACS data. This discrepancy suggests that landlords in ZIP 57225 can potentially receive higher rents through Section 8 vouchers than they would in the open market. However, it's important to note that the voucher amount does not necessarily cover the entire rent, and tenants typically pay a portion based on their income.
Evaluating the overall data signature, ZIP 57225 appears to be in a transitional phase. With a significant portion of residents renting, there is an ongoing demand for rental properties. Additionally, the difference between the FMR and market rent indicates a potential opportunity for landlords who participate in the Section 8 program. As the median income is below the median home value, it also implies that many residents may find it easier to rent rather than buy, further supporting the rental market dynamics.
In summary, ZIP 57225 offers a unique mix of affordability and opportunity for landlords interested in the Section 8 program. The current economic landscape, characterized by a growing rental market and the potential for higher rents via Section 8 vouchers, presents a favorable environment for investment. Landlords should consider the long-term stability and growth potential of the area when deciding to enter or expand their presence in the rental market.
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.