Location: Charles Mix County, SD | Metro: Charles Mix County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
U.S. Census Bureau data (2024)
The ZIP code 57329 is situated in a rural area with a small population of 317 residents. This neighborhood has a modest rental market, with 22.8% of the residents being renters. The median income in the area stands at $62,115, indicating a relatively stable economic environment for the local populace. However, the median home value is not available, which suggests that there might be limited data on homeownership in this area.
Moving into the specifics of the rental market, the Fair Market Rent (FMR) for ZIP 57329, as set by HUD for the fiscal year 2026, is $1,290. In contrast, the actual market rent, based on Census ACS data, is lower at $1,042. This discrepancy between the FMR and the market rent presents an opportunity for landlords and small-portfolio investors who can leverage the higher voucher amounts to cover their costs and potentially earn a profit.
Given these factors, ZIP 57329 is well-suited for a hands-off voucher operator. Landlords can benefit from the guaranteed rental income provided by the Section 8 program, which ensures a steady stream of payments at the higher FMR rate. For those interested in a more active role, such as a hands-on value-add buyer, the area offers potential for enhancing property values and rents, though the small size of the market may limit the scale of such endeavors.
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.