Location: McPherson County, SD | Metro: Campbell County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 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 57437 stands out due to its unique characteristics, including a relatively small population of 1,074 residents, where 18.3% of the population rents their homes. The median income in this area is $49,276, which provides insight into the economic profile of its inhabitants. Notably, there is no available data for the median home value, indicating that either the data is incomplete or the area has an unusual housing structure.
Moving onto the voucher economics, the Fair Market Rent (FMR) for ZIP 57437 in fiscal year 2026 is set at $930, significantly higher than the current market rent of $566 as reported by the Census Bureau's American Community Survey (ACS). This disparity suggests that landlords participating in the Section 8 program could potentially receive higher rental income compared to the local market rates. However, it's important to note that the actual amount paid to landlords is determined by the tenant's portion of the rent, typically 30% of their adjusted income, plus the voucher subsidy, which covers the difference up to the FMR.
Given the data signature, ZIP 57437 appears to be in a transitional phase. The lack of median home value data combined with the significant gap between FMR and market rent indicates ongoing changes in the housing market. Landlords should monitor these trends closely, as they might signal shifts in the local economy or changes in housing demand and supply dynamics. For small-portfolio investors, this ZIP code offers opportunities but also requires careful consideration of the potential risks associated with transitional markets.
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.