Section 8 Fair Market Rent (FMR) for ZIP 57434 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$840
2 Bedrooms	$1,010
3 Bedrooms	$1,230
4 Bedrooms	$1,660
5 Bedrooms	$1,926
6 Bedrooms	$2,157
7 Bedrooms	$2,330
8 Bedrooms	$2,447

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

506

Median Household Income

$73,393

Housing Units

266

Renter Percentage

6.5%

Occupancy Rate

80.8%

Renter Occupied

The town located in ZIP code 57434 offers a unique blend of rural charm and accessibility to urban amenities, making it an attractive location for both residents and investors. The housing market here reflects a balance between affordability and comfort, with a variety of opportunities for those looking to invest in rental properties.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, providing a benchmark for rental pricing that landlords should consider when setting their own rates.
Despite the lack of specific data on market rents (N/A), the median home value stands at $183,733, indicating a relatively affordable market for potential investors.
Renters make up 6.5% of the local population, suggesting a modest but stable demand for rental properties. This percentage is likely to grow as more individuals seek affordable housing options.
The median income in the area is $73,393, which suggests that tenants could afford higher rents if the market supports it, given the fair market rent as a guideline.
While the days on market (DOM) data is not available (N/A), the combination of a reasonable median home value and the fair market rent provides a solid foundation for investment decisions.
The scarcity of direct market rent data implies that the local rental market may be less competitive, offering a chance for landlords to establish a strong presence with well-priced units.

For landlords and small-portfolio investors, the key takeaway is that ZIP 57434 presents a stable and potentially growing rental market. With the fair market rent at $930 and a median home value of $183,733, the area is ripe for investment, especially considering the modest renter share and median income levels. Investors should focus on pricing their rentals competitively while ensuring they meet the needs of the community, such as providing affordable yet comfortable living spaces. The lack of specific market rent data and days on market metrics suggests a less saturated market, which can be advantageous for new entrants looking to build a portfolio.

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.