Location: Hutchinson County, SD | Metro: Davison County, SD
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,620 | $281,430 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 57334 stands out due to its unique demographic and economic characteristics. With a population of 1,081 residents, it has a relatively low percentage of renters at 28.4%, indicating that homeownership is more prevalent than in many other areas. The median income here is $62,167, which suggests a middle-class community. The median home value is notably high at $305,710, reflecting the area's higher cost of living compared to national averages.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for fiscal year 2026 in the metro area is set at $990. This is slightly above the current market rent of $983, as reported by the Census Bureau's American Community Survey. For landlords and small-portfolio investors, this means that there is a potential opportunity to receive slightly above-market rents through Section 8 vouchers, although the difference is minimal. It's important to note that while the FMR provides a benchmark for rental assistance, actual rental prices can vary based on property condition, location, and demand.
Based on the data signature, ZIP 57334 appears to be in a stable phase. The slight increase in FMR over the current market rent suggests a balanced environment where the government's rental assistance aligns closely with the local housing market. However, stability should be assessed alongside broader economic trends and any recent changes in the local housing market that could affect long-term investment decisions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.