Location: Walworth County, SD | Metro: Potter County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
The ZIP code 57450, located in a county with a population of 624 residents, stands out due to several distinct characteristics. With only 14.8% of the residents renting, this area has a significantly lower rental rate compared to national averages. The median household income is $86,833, which is above the national median, indicating a relatively affluent community. However, the lack of data on median home values suggests that there might be limited housing stock or that the housing market is not as active or tracked as other areas.
Moving onto the voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,050. This figure represents the maximum amount that landlords can receive through the Section 8 program for a standard unit. Without specific market rent data for ZIP 57450, it's challenging to assess how competitive the FMR is relative to actual market rents. However, the low rental rate implies that there might be fewer tenants relying on vouchers, which could mean that landlords have less incentive to participate in the Section 8 program unless they are targeting a specific segment of the market.
In conclusion, the data signature for ZIP 57450 reads as "stable." The high median income and low rental rate suggest a community where homeownership is prevalent and the demand for rental properties, including those supported by Section 8 vouchers, is likely limited. Landlords and small-portfolio investors should carefully consider the local dynamics before engaging with the Section 8 program, as the benefits may not outweigh the administrative complexities in such a stable and potentially less active rental market.
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.