Location: Spink County, SD | Metro: Spink County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 57477, located in Spink County, SD, reveals a unique opportunity due to the discrepancy between the HUD Fair Market Rent (FMR) and the actual market rents. The HUD FMR for the area is set at $930 per month, which is significantly higher than the current market rent of $625, based on Census ACS data. This means that landlords can expect positive cash flow from voucher tenants at the FMR rate, without needing to rely on premium units.
Given the median home value is listed as N/A, it's challenging to provide a precise rent-to-price ratio. However, the higher FMR compared to market rent suggests that properties rented through the Section 8 program will be more valuable relative to their purchase price, indicating a favorable investment environment for rental properties.
The N/A-day median Days on Market (DOM) and N/A% price-cut share indicate that there is little information available on the buying dynamics, but this does not detract from the strong cash flow potential. With the HUD FMR well above the current market rent, landlords can expect to see consistent, positive cash flow from voucher tenants, making this the strongest angle for investors in ZIP 57477.
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.