Location: Roberts County, SD | Metro: Roberts County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 57255 is set at $930 for metro fiscal year 2026. This figure represents the payment standard used by the Housing Choice Voucher Program, commonly known as Section 8. It's important to note that this does not mean you can charge $930 for rent; it's the maximum amount that the government will pay towards a tenant's rent.
In comparison, the average rent in ZIP 57255 is currently around $500 according to recent Census ACS data. This suggests that the government payment standard is higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program.
The rental share in this area is 20.4%, indicating a moderate demand for rental properties. This percentage reflects the proportion of households that are renters, which can help gauge interest in your property. Given that the FMR exceeds the average rent, there should be a reasonable pool of tenants looking for housing assistance through Section 8.
Regarding the acquisition cost of properties in this ZIP code, the data indicates it is not applicable (N/A). This might suggest limited publicly available data on property prices, so it would be wise to consult local real estate agents or conduct a thorough review of recent sales to understand the cost of acquiring a rental property.
A key verification step before proceeding with a Section 8 rental is to ensure your property meets all the necessary inspection criteria. The Housing Quality Standards (HQS) set by the Department of Housing and Urban Development must be met to qualify for the program. This includes ensuring your home is safe, decent, and sanitary, covering aspects such as heating, plumbing, and structural integrity.
In summary, the FMR of $930 provides a solid financial framework for landlords in ZIP 57255, given the lower average rent of $500. With a 20.4% renter share, there is a viable market for Section 8 tenants. However, it is crucial to confirm your property passes the required inspections before committing to the program.
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.