Location: Sanborn County, SD | Metro: Beadle County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 57312 in metro FY 2026 is set at $1,210. This figure represents the payment standard used by the Housing Choice Voucher program, commonly known as Section 8. It does not mean that tenants will pay $1,210; rather, it's the maximum amount the government will reimburse landlords for rent.
In comparison, the average rent in ZIP 57312 according to Census ACS data is $925. This means that the FMR is higher than the typical market rate, providing an opportunity for landlords to receive a slightly above-average rent reimbursement through the voucher program.
The renter share in this area is 14.2%, indicating a moderate level of demand for rental properties. While not exceptionally high, this percentage suggests there is a consistent need for affordable housing options, which can be met through Section 8 rentals.
Note that the acquisition cost is listed as N/A, meaning there isn't specific data available on the costs associated with purchasing property in this ZIP code. However, given the difference between the FMR and the local average rent, landlords can expect a reasonable return on investment when renting to Section 8 participants.
Before proceeding with a Section 8 rental in ZIP 57312, verify that your property meets all the necessary inspection criteria. The Housing Authority conducts thorough inspections to ensure the property is safe and habitable, so confirming compliance with these standards will be crucial to avoid delays or disqualification.
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.