Location: Hand County, SD | Metro: Faulk County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 57470 in Hand County, SD, reveals several key points that are crucial for landlords and small-portfolio investors.
Firstly, regarding the rent math, the Fair Market Rent (FMR) set at $950 for the fiscal year 2026 does not provide a direct comparison with the market rent due to the lack of available data on current market rates. This means that without specific market rent figures, it's challenging to determine if the rent math works based on the FMR alone.
Secondly, the acquisition affordability cannot be assessed accurately as the median home value, days on market (DOM), and percentage of homes needing price cuts are all marked as 'N/A'. These missing data points make it impossible to gauge the financial feasibility of purchasing properties in this area.
Lastly, concerning tenant demand, the ZIP code has a population of 242, but the renter share is listed as 0.0%. This indicates that there are no renters in the area, which would make it difficult for landlords to find tenants willing to pay the FMR of $950.
Verdict: The ZIP code 57470 presents significant challenges for landlords and small-portfolio investors. With an FMR of $950 and no current market rent data, the viability of rental income cannot be confirmed. Additionally, the absence of data on median home values, DOM, and price cut percentages leaves the acquisition cost and potential resale challenges unclear. Most critically, the lack of any renters in the community suggests that there is little to no tenant demand, making the area unsuitable for rental investment.
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.