Location: Gregory County, SD | Metro: Gregory County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 57317 presents a significant opportunity for landlords and small-portfolio investors interested in attracting Section 8 tenants. With 39.7% of residents being renters, this area leans towards a renter-heavy community, which aligns well with the high demand for housing vouchers. The median household income stands at $50,833, indicating that the majority of residents rely on subsidies to afford housing.
The market rent in ZIP 57317 is currently set at $533 per month. This figure represents approximately 12.6% of the median household income, suggesting that typical rents are relatively affordable compared to the average income level. However, when considering the Fair Market Rent (FMR) of $930 per month for FY 2026 in the metro area, it's evident that the market rent in 57317 is significantly below the FMR. This discrepancy highlights the potential for landlords to offer competitive rents while still benefiting from government subsidies.
Landlords in ZIP 57317 can expect a tenant profile characterized by individuals and families who depend on Section 8 vouchers to meet their housing needs. These tenants are likely to have lower incomes and may include single parents, elderly residents, and those with disabilities. It's important for landlords to understand that these tenants will have a strict budget and may require assistance in managing their finances. Additionally, they should be prepared to work closely with the local housing authority to ensure compliance with program guidelines.
In conclusion, ZIP 57317 offers a strong tenant pool for Section 8 participants due to its high percentage of renters and the affordability of current market rents relative to the median income. Landlords here should anticipate working with tenants who have limited financial resources but are committed to maintaining their homes responsibly with the support of housing vouchers.
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.