Location: Grant County, SD | Metro: Codington County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The ZIP code 57264, located within the Grant County, SD metro, has a Fair Market Rent (FMR) of $930 for fiscal year 2026. This figure is crucial for understanding the rental landscape in this area, especially for landlords and small-portfolio investors interested in Section 8 properties.
In comparison to other ZIP codes in Grant County, SD, the FMR of $930 can be considered a baseline metric for evaluating the cost-effectiveness of renting properties. However, the lack of specific data on market rent and home value for ZIP 57264 makes it challenging to definitively classify it as either a value pocket, a mid-tier neighborhood, or a premium sub-market within the larger metro area. Nonetheless, the 23.0% renter share indicates that a significant portion of residents in this ZIP code are renters, which could suggest a higher demand for affordable housing options.
A notable divergence in the data is the absence of market rent and home value figures for ZIP 57264, while the FMR is clearly defined. Typically, if a ZIP code has a high renter share but lower home values compared to the metro average, it could indicate a potential sweet spot for Section 8 investments. However, without concrete market rent and home value data, we cannot conclusively state that 57264 fits this profile.
To make a more informed decision about the investment potential of ZIP 57264, it would be beneficial to gather additional data on market rents and home values. This information would help clarify how 57264 stacks up against other ZIP codes in the same county and whether it offers unique advantages for landlords and investors looking to capitalize on the rental market dynamics influenced by Section 8 programs.
For now, based on the available FMR and renter share data, ZIP 57264 appears to be a viable option for those interested in the Section 8 market, given its defined affordability threshold and the presence of a substantial number of renters. Further analysis would be required to determine its exact positioning within the broader context of Grant County, SD's real estate 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.