Location: Miner County, SD | Metro: Miner County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 57349 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $930 per month for the fiscal year 2026. This figure is specific to this ZIP code, reflecting the local rental market conditions more accurately than a broader metro or county-level average would.
However, the local market rent, according to Census ACS data, is lower at $603 per month. This discrepancy is important for landlords to understand when considering whether to participate in the Section 8 program. The SAFMR of $930 represents the maximum amount that the Housing Choice Voucher Program will pay for a two-bedroom unit in this ZIP code.
A voucher holder's rent contribution is typically 30% of their adjusted income. For simplicity, let's assume a household's monthly adjusted income is $1,000. Their tenant portion would be $300, which they must pay directly to the landlord. The remaining balance is covered by the voucher, up to the SAFMR limit. In this case, the voucher would cover $630 ($930 - $300).
In addition to the base rent, there are utility allowances. These vary but generally add a few hundred dollars to the total reimbursement. Assuming a utility allowance of $200, the total reimbursement to the landlord would be $830 ($630 + $200).
This means that if you are a landlord renting out a two-bedroom unit at the local market rate of $603, the voucher would cover the entire rent plus provide an additional $227 towards utilities, creating a surplus of $227 above the market rate. Conversely, if you are charging $930, the voucher would cover the entire rent but only provide $200 towards utilities, leaving no surplus or gap in the payment structure.
Therefore, for a two-bedroom unit in ZIP 57349, the typical reimbursement gap or surplus depends on your rental pricing. If priced at the local market rate, there is a surplus; if priced at the SAFMR, there is neither a surplus nor a gap.
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.