Location: Sanborn County, SD | Metro: Beadle County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
U.S. Census Bureau data (2024)
ZIP code 57314, located within Sanborn County, SD, presents a unique profile when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 57314 is set at $1,260 for fiscal year 2026, which is notably higher than the average market rent of $950. This discrepancy suggests that ZIP 57314 could be considered a premium sub-market within the county, as it commands higher rents based on HUD's FMR standards.
The absence of home value data for ZIP 57314 makes direct comparisons challenging, but the high renter share of 25.1% stands out. In general, a higher proportion of renters indicates greater demand for rental properties. For landlords and small-portfolio investors, this means there is a substantial number of potential tenants who are likely to be interested in renting homes in this area.
A key observation is the difference between the FMR and the actual market rent. The FMR being higher than the market rent can be an indicator of a value pocket, especially if the renter share is significantly high. This combination often points to areas where Section 8 housing vouchers can cover a larger portion of the actual market rent, making such neighborhoods attractive for low-income renters and thus potentially beneficial for landlords who participate in the program.
In conclusion, ZIP 57314 appears to be a premium sub-market with a high renter share, suggesting strong interest in rental properties. Despite the lack of home value data, the disparity between the FMR and market rent implies a value pocket where Section 8 vouchers can play a significant role. Landlords and investors should consider this ZIP code as a promising opportunity within the Sanborn County, SD metro.
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.