Location: Buffalo County, SD | Metro: Buffalo County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
U.S. Census Bureau data (2024)
The Federal Payment Standard for ZIP code 57339 in metro area for fiscal year 2026 is set at $1,210. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay landlords through the Section 8 program for eligible units. It's important to note that this is not the rent you can charge your tenant; it's the reimbursement limit.
In comparison, the average rent for the area, according to recent Census American Community Survey (ACS) data, stands at $605. This indicates that the HUD payment standard is significantly higher than the current market rate, which can be beneficial for landlords who are considering participating in the Section 8 program. The difference between the two figures suggests that landlords can potentially cover their costs and earn a profit if they manage their expenses well.
The local renter share, which is the percentage of households that rent rather than own their homes, is 56.5%. This high proportion of renters points to strong demand for rental properties in ZIP 57339. Landlords can expect a steady pool of potential tenants interested in affordable housing options.
Regarding property acquisition costs, the data shows it as N/A, which means there isn't enough information to determine a typical cost for buying a rental property in this ZIP code. However, this does not necessarily mean it's unfeasible to acquire a property here. Landlords should research local real estate listings and speak with local realtors to get an accurate understanding of property values and purchase costs.
Before committing to a Section 8 rental in ZIP 57339, one key factor to verify is the condition of the property. HUD requires that all units participating in the Section 8 program meet certain standards known as Housing Quality Standards (HQS). Ensuring your property meets these standards will help avoid delays in securing tenants and will maintain compliance with the program requirements.
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.