Location: Hutchinson County, SD | Metro: Hutchinson County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
0.0% of residents in ZIP code 57354 are renters, indicating a predominantly owner-occupied area which may limit the appeal for landlords looking to invest in rental properties. However, the Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $950, providing a benchmark for rental pricing that aligns with HUD guidelines. This figure is crucial for Section 8 landlords as it determines the maximum allowable rent for subsidized units.
N/A data on market rent suggests there may be limited recent transactions or data available, making it challenging to compare current rents against the FMR. Similarly, the absence of median home value data means that investors cannot easily assess property values relative to other areas, though this does not necessarily impact rental investments directly.
The median income data is also marked as N/A, which is significant because Section 8 eligibility is tied to household income levels. Without this information, it's difficult to gauge the potential tenant pool size and their ability to meet co-payment requirements.
N/A-day Days on Market (DOM) indicates no recent sale data, which could mean the area is stable but also limits insights into how quickly properties are moving. A low DOM would typically suggest a robust market, while high DOM might indicate slower sales cycles or pricing issues.
N/A% of listings that have had their prices cut also reflects a lack of recent market activity, which can be both positive and negative. In a healthy market, few listings need price reductions, but in an inactive market, this metric might not be indicative of broader trends.
In conclusion, while the $950 FMR provides a clear guideline for rental pricing, the scarcity of other key metrics such as market rent, median home value, and median income makes it challenging to fully evaluate the investment potential in ZIP 57354 for Section 8 participation. The non-renter dominated area poses additional challenges for landlords seeking immediate occupancy. Verdict: Proceed with caution due to data limitations and low renter share.
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.