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 rental market in ZIP code 57236 presents a unique challenge for both renters and landlords. Given the median household income of $84,167, it is crucial to assess whether residents can afford the prevailing market rates. Unfortunately, the market rate data is currently unavailable (N/A), making it difficult to provide a precise comparison. However, we can still analyze the situation using the available information.
The Fair Market Rent (FMR) set at $950 for the metro area in fiscal year 2026 serves as a benchmark for Section 8 voucher payments. This figure represents the maximum amount that a household receiving a voucher can be expected to pay towards their rent. In ZIP 57236, where the population is relatively small at 91 individuals, and only 13.3% of households are renters, the competition among landlords could be intense for those few rental units.
Considering the median income and the FMR, the affordability gap becomes evident. A household earning $84,167 annually would have a monthly disposable income significantly higher than the $950 FMR, assuming typical living expenses and savings. For landlords, this means that while there are fewer renters, those who do not qualify for vouchers might be able to pay higher rents, reflecting the actual market rate once it is determined.
The takeaway for landlords is clear: understanding the dynamics between voucher recipients and cash-paying tenants is essential. While the voucher payment standard provides a predictable revenue stream, it is capped at $950. Landlords should consider the potential for higher rents from non-voucher households, given the relatively high median income. This strategy might require investments in property improvements to attract cash-paying tenants willing to pay above the FMR. However, the limited number of renters suggests that landlords must also be prepared to accept voucher tenants to ensure occupancy and steady income.
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.