Location: Spink County, SD | Metro: Beadle County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
ZIP code 57348, located within Spink County, SD, exhibits characteristics that suggest it is a value pocket within its metro area. The Federal Market Rent (FMR) for this ZIP is set at $1,020 for fiscal year 2026, which is notably higher than the market rent of $738. This discrepancy indicates that landlords in 57348 can potentially benefit from the government subsidy programs like Section 8, as the actual rents they charge are lower than the FMR, creating a margin of profit.
The renter share in ZIP 57348 stands at 41.4%, which is a significant portion of the housing market. Typically, a higher renter share can be indicative of a greater demand for rental properties. However, without specific data on the average renter share for Spink County, it's challenging to definitively state if this percentage is above or below the county average. Nevertheless, the combination of a substantial renter share and below-FMR market rents suggests a favorable environment for landlords who participate in subsidized housing programs.
A key point of divergence is the absence of home value data for ZIP 57348. This lack of information could imply several things: either the area predominantly consists of rentals, or there is limited data available on home sales. In either case, it aligns with the notion of 57348 being a value pocket where the focus is more on rental properties rather than owner-occupied homes. Given the structure of the data, it's reasonable to infer that 57348 is likely to attract tenants seeking affordable housing, particularly those eligible for Section 8 assistance.
In summary, ZIP 57348 appears to be a value pocket within the Spink County, SD metro, characterized by a high FMR relative to the market rent and a significant renter share. These factors make it an attractive location for landlords and small-portfolio investors interested in tapping into government subsidy programs while offering affordable housing options to renters.
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.