Location: Day County, SD | Metro: Day County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,440 |
| 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 ZIP code 57239 stands out due to its relatively low population density, with only 358 residents, and a modest rental rate of 11.3%. The median income in this area is $106,389, which is higher than the national average, indicating a generally affluent community. However, the lack of data on median home values suggests that there might be limited housing stock or significant variability in property types, making it challenging to assess the typical cost of homeownership.
Moving to the voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990. This figure represents the maximum amount that a landlord can receive through the Section 8 program for renting a unit. Given that the market rent data is not available, it's difficult to determine how competitive this FMR is compared to the actual rental rates in ZIP 57239. Landlords should consider this FMR alongside any local rental trends they can gather independently to make informed decisions about participating in the Section 8 program.
The data signature for ZIP 57239 reads as stable, with a high median income suggesting a steady economic base. The limited rental market indicates that there is little competition among landlords, but also that the pool of potential tenants might be smaller. For small-portfolio investors, this stability could provide a predictable income stream, although the overall demand for rentals appears to be low. Participation in the Section 8 program could help fill vacancies and provide a reliable source of income, but the decision should be based on a thorough understanding of local rental dynamics and the financial implications of the $990 FMR.
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.