Location: Faulk County, SD | Metro: Edmunds County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,380 |
| 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 rent math in ZIP 57435, located in Faulk County, SD, does not provide a clear comparison due to the lack of available market rent data. However, the Fair Market Rent (FMR) for the area, set at $950 for fiscal year 2026, serves as a benchmark for landlords to ensure their rental properties remain competitive and attractive to potential tenants.
Regarding the affordability of property acquisitions, the absence of specific data on median home values, days on market (DOM), and the percentage of price reductions required makes it challenging to provide a detailed analysis. Landlords and investors should seek out local real estate agents or consult the latest real estate listings to understand the current market conditions and make informed decisions about property purchases.
Tenant demand in ZIP 57435 is relatively low given the small population size of 300. Only 11.0% of the residents are renters, which suggests that the pool of potential tenants is limited. This could impact the ability to quickly lease properties and maintain steady occupancy rates.
In summary, while the Fair Market Rent provides a guideline for setting rental prices, the lack of comprehensive market data hinders a thorough assessment of acquisition costs and tenant demand. Investors should proceed with caution and conduct additional research to fully evaluate the potential risks and rewards of investing in ZIP 57435. The small population and low renter share indicate that finding and retaining tenants might be challenging, making it essential to align rental prices closely with the $950 FMR to attract the limited number of renters in the area.
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.