Section 8 Fair Market Rent (FMR) for ZIP 57401 - 2027

Location: Brown County, SD | Metro: Brown County, SD

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$780
2 Bedrooms	$1,010
3 Bedrooms	$1,290
4 Bedrooms	$1,590
5 Bedrooms	$1,844
6 Bedrooms	$2,065
7 Bedrooms	$2,230
8 Bedrooms	$2,342

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

31,939

Median Household Income

$68,835

Housing Units

15,182

Renter Percentage

35.3%

Occupancy Rate

91.5%

Renter Occupied

4,908

Housing Authorities Serving ZIP 57401

Aberdeen Housing & Redevelopment Commission (Aberdeen, SD) - 590 Section 8 vouchers

Aberdeen, SD, located in the heart of South Dakota, offers a stable and modest real estate market. With a strong tenant base and reasonable rental rates, it presents a viable investment opportunity for landlords and small-portfolio investors looking to diversify their holdings in a less competitive environment.

The Fair Market Rent (FMR) for a two-bedroom apartment in the Aberdeen metro area for fiscal year 2026 is set at $930.
The market rent, as measured by Zillow's ZORI, stands at $975 for a similar unit, indicating a slight premium over the FMR.
The median home value in the area is $237,132, which is lower compared to many urban centers, making property acquisition more affordable.
Renters constitute 35.3% of the local housing market, suggesting a moderate demand for rental properties.
The days on market (DOM) average for listings is 48 days, reflecting a balanced market where neither buyers nor sellers dominate.
The median household income in the area is $68,835, providing insight into the economic stability and potential affordability for tenants.

Investors considering Aberdeen, SD, should note that the slightly higher market rent compared to the FMR indicates a healthy demand for rental units. The relatively low median home value and moderate renter share suggest a good entry point for acquiring rental properties without facing intense competition. Additionally, the average DOM of 48 days shows a market that is neither too slow nor too fast, allowing for steady sales and acquisitions. The median income supports the ability of residents to afford rental costs, making Aberdeen a solid choice for those seeking a stable real estate investment with predictable returns.

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.