Location: Douglas County, SD | Metro: Aurora County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The ZIP code 57369 is characterized by a modest rental market presence, with only 20.9% of its 2,630 residents identified as renters. This indicates that the area is primarily dominated by homeowners rather than renters, which suggests that the demand for Section 8 housing vouchers may be relatively low compared to more densely populated rental markets.
The median household income in this ZIP code stands at $78,100, which provides a useful benchmark for assessing the affordability of the local market rent. The typical market rent of $870 constitutes approximately 11.1% of the median household income, indicating that rent is generally affordable for most households in the area. However, when comparing the market rent to the Fair Market Rent (FMR) of $1,020, it becomes evident that the local rent is below the FMR, which could make properties in this ZIP more attractive to tenants who receive housing vouchers.
A landlord in ZIP 57369 can expect a tenant profile that is likely to include individuals or families who are seeking more affordable housing options. Given the lower market rent relative to the FMR, these tenants might have a slight surplus in their budget after paying rent, due to the subsidy provided by the Section 8 program. This surplus could contribute to better maintenance of properties and timely rent payments, assuming the tenants manage their finances effectively.
Despite the homeowner dominance, there remains an opportunity for landlords to cater to the Section 8 tenant pool. However, they should be prepared for a smaller pool of potential voucher recipients and understand that the competition for these tenants might not be as fierce as in areas with higher concentrations of 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.