Location: Douglas County, SD | Metro: Douglas County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 57364 in Douglas County, South Dakota reveals several key insights for landlords and small-portfolio investors.
Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990. However, the absence of market rent data suggests that local rental rates might be below or significantly different from the FMR, indicating potential difficulties in setting competitive rents that cover costs.
Secondly, acquisition affordability is unclear due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have been subject to price cuts. Without these figures, it's challenging to assess whether purchasing properties in this area would be financially viable for new investors.
Lastly, there is strong tenant demand. With a population of 4 and a 100% renter share, all residents are likely seeking rental housing, which could translate into a high occupancy rate for rental properties.
In conclusion, while ZIP 57364 presents a unique opportunity with guaranteed tenant demand, the financial viability is uncertain due to incomplete data on market rents and property acquisition costs. Landlords and investors should proceed cautiously, ensuring they can operate effectively within the given FMR constraints and seek out additional local market insights before making investment decisions.
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.