Section 8 Fair Market Rent (FMR) for ZIP 57258 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

ZIP code 57258, located in South Dakota, is a small rural area that offers unique opportunities for real estate investors, particularly those interested in the Section 8 housing voucher program.

• The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $930. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program, providing a clear guideline for rental pricing.
• The market rent for the area is currently not available, which means there is limited data on what non-subsidized properties are renting for. However, given the FMR, it's reasonable to assume that market rents may be higher, depending on the demand and property condition.
• The median home value is not available, indicating that the area may have a smaller number of homes for sale, which could suggest a focus on rental properties.
• Renters make up 21.1% of the local housing market, a figure that is relatively low compared to urban areas but still significant enough to support a niche rental market.
• The median income for the area is $58,295, which provides insight into the economic profile of potential tenants and their ability to contribute to rent payments beyond the voucher subsidy.
• The Days on Market (DOM) statistic is not available, making it difficult to assess how quickly properties are being rented out. However, this could also indicate a stable market where turnover is slow but steady.

For landlords and small-portfolio investors looking to enter the Section 8 market in ZIP 57258, the key takeaway is that while the area presents a niche opportunity with limited competition, the lack of certain data points such as market rent and DOM suggests a need for thorough due diligence. The FMR of $930 provides a solid anchor for pricing, and the median income of $58,295 indicates that tenants might be able to cover additional costs beyond the voucher amount. With a lower-than-average renter share, securing tenants may require a strategic approach, focusing on the benefits of living in a stable, rural community.

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.