Section 8 Fair Market Rent (FMR) for ZIP 57420 - 2027

Location: Walworth County, SD | Metro: Walworth County, SD

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$820
1 Bedroom	$1,020
2 Bedrooms	$1,170
3 Bedrooms	$1,440
4 Bedrooms	$1,790
5 Bedrooms	$2,076
6 Bedrooms	$2,325
7 Bedrooms	$2,511
8 Bedrooms	$2,637

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

260

Median Household Income

$40,469

Housing Units

193

Renter Percentage

34.6%

Occupancy Rate

55.4%

Renter Occupied

The ZIP code 57420 encompasses a small area within Akaska, South Dakota, situated in Walworth County. This region presents a unique opportunity for real estate investment, particularly for those interested in the Section 8 housing market.

The Fair Market Rent (FMR) for ZIP 57420 is set at $1,080 for the fiscal year 2026, providing a benchmark for rental pricing.
The median household income in ZIP 57420 is $40,469, indicating a moderate economic environment where affordable housing solutions are likely in demand.
Renters make up 34.6% of the population, highlighting a significant portion of the community that may rely on rental assistance programs.
The median home value is $79,000, which suggests that the overall real estate market in this area is relatively affordable compared to national averages.
A substantial 54.08% of the population lacks health insurance coverage, pointing to a need for subsidized housing options that can attract tenants eligible for government assistance.

Investors in ZIP 57420 should focus on properties that can be rented at or below the FMR of $1,080, catering to the income level of the residents. The significant share of renters and low median home values indicate a strong potential for Section 8 housing, making it a viable option for landlords and small-portfolio investors seeking stable, government-backed rental income.

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.