Location: Hyde County, SD | Metro: Hyde County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 57346 presents a unique challenge for both renters and landlords due to limited data on median income and market rental rates. However, focusing on the available information, we can analyze the situation.
Affordability becomes a critical issue when considering the voucher payment standard set at $970 for the metro area in fiscal year 2026. This figure represents the Fair Market Rent (FMR) for the region, which is the benchmark for how much households should pay in rent. Given that the median income for the area is not reported, it's challenging to determine the exact financial capability of the households. Nonetheless, the FMR provides a clear guideline for what is considered affordable.
With 100.0% of the 13 residents being renters, the competition among landlords is intense. The scarcity of data suggests a niche market where understanding individual tenant needs and capabilities is crucial. The affordability gap, indicated by the reliance on voucher payments, highlights the financial constraints many residents face.
The takeaway for landlords is clear: voucher tenants provide a stable source of income, especially in areas where cash-paying tenants might be scarce due to lower incomes. Accepting voucher payments ensures a steady stream of rental income at a guaranteed rate of $970 per month, which is essential for managing risks in a market with high competition and uncertain economic conditions. While cash-paying tenants might offer higher rents, the reliability of voucher payments makes them a strategic choice for landlords looking to secure long-term, predictable income streams.
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.