Location: Marshall County, SD | Metro: Marshall County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 57430 hosts a population of 1,828 individuals, with 22.1% being renters. This indicates that the area is not heavily dominated by renters; rather, it leans towards a mix of homeowners and renters. The median household income in this region stands at $70,484, which provides a baseline for understanding the economic context of potential tenants.
A typical market rent of $820 is observed in this ZIP code. To put this into perspective, this amount represents approximately 11.6% of the median household income. This suggests that the average rent is relatively affordable for most residents, especially considering that the Fair Market Rent (FMR) for the metro area is set at $930 for fiscal year 2026. Landlords can thus expect a competitive rental market, with rents slightly below the FMR but still within a reasonable range for many households.
The lower percentage of renters compared to homeowners implies that the demand for Section 8 vouchers might be less intense than in areas with higher percentages of renters. However, the presence of a Section 8 tenant pool still exists, and landlords can benefit from renting to these tenants who have their rent subsidized up to $820, making it a stable source of income.
To summarize, landlords in ZIP 57430 should anticipate a tenant pool that includes a significant number of individuals with access to Section 8 vouchers, although the overall demand may not be as high due to the relatively low percentage of renters. These tenants will have their rent capped at $820, which is below the FMR, indicating that they are likely to find this level of rent affordable given the median household 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.