Location: Grant County, SD | Metro: Codington County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
35.1% of residents in ZIP code 57265 are renters, indicating a significant portion of the population relies on rental housing. This statistic aligns with the $990 Fair Market Rent (FMR) for the metro area in fiscal year 2026, which is the benchmark used to determine payment standards for the Section 8 Housing Choice Voucher program. Given that the median income in this area stands at $69,519, landlords can expect a steady demand for units priced at or below the FMR threshold. While specific market rent and median home value data are not available, the reliance on rental properties suggests that there is a strong need for affordable housing options. The lack of detailed data on days on market (DOM) and the percentage of price-cut shares indicates that the local real estate market may be less volatile compared to larger urban areas. However, landlords should still maintain competitive pricing and property conditions to attract and retain tenants. With the FMR set at $990, it provides a clear guideline for setting rents that are both attractive to potential tenants and compliant with Section 8 requirements. This ensures that landlords can effectively participate in the voucher program while maintaining profitability. In conclusion, the high renter share and the defined FMR make ZIP code 57265 a viable market for Section 8 participation.
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.