Location: Douglas County, SD | Metro: Aurora County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The ZIP code 57328 presents a unique opportunity for real-estate investors interested in Section 8 properties. With a metro Fair Market Rent (FMR) of $990 for fiscal year 2026, compared to a market rent of $1,018, the area shows a slight premium in market conditions over what is considered fair for subsidized housing. However, the absence of a figure for home values suggests that there might be limited data or a smaller number of sales transactions in this area, which can indicate lower liquidity but also fewer opportunities for capital appreciation.
On the stability axis, 57328 scores moderately. The 26.7% rate of renters indicates a significant portion of the population relies on rental housing, which is beneficial for maintaining a consistent demand for rental units. The lack of a figure for days on market (DOM) makes it difficult to assess how quickly properties are rented out, but the average household income of $86,985 provides a solid foundation for financial reliability among tenants. This income level suggests that residents have a higher capacity to meet their obligations, including rent payments, even if they are receiving assistance through Section 8 vouchers.
Based on these figures, ZIP 57328 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slight premium in market rent over FMR supports a modest yield potential, while the moderate renter percentage and strong income levels contribute to a stable tenant base. Investors should focus on long-term holdings and cash flow generation, rather than short-term flipping strategies, due to the limited data on home values and DOM. This approach will maximize returns while minimizing risk, given the available information.
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.