Location: Jones County, SD | Metro: Jones County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 57562 reveals several key points regarding its viability for Section 8 real-estate investments.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960. However, the market rent for the area is listed as N/A, which means that there is insufficient data to make a direct comparison. This lack of current market rent figures makes it difficult to assess if the FMR is aligned with what tenants can realistically afford in the local market.
Regarding the affordability of property acquisitions, the median home value in ZIP 57562 is also listed as N/A. Additionally, the average number of days on the market (DOM) and the percentage of homes that required a price reduction before selling are both marked as N/A. Without these critical metrics, it's challenging to determine how competitive the acquisition costs are in this ZIP code.
The tenant demand in ZIP 57562 is somewhat limited. With a total population of 89, only 17.6% of residents are renters. This indicates that the pool of potential tenants is relatively small, which could affect the occupancy rates and the overall demand for rental properties.
Verdict: Based on the available data, investing in ZIP 57562 for Section 8 properties presents significant challenges. The absence of key financial indicators such as market rent and median home values makes it hard to evaluate the economic feasibility of rental income and property purchases. Moreover, the low population and limited renter share suggest a constrained tenant market, which could lead to difficulties in maintaining occupancy. Given these factors, the investment opportunity in this ZIP code appears less favorable compared to areas with more comprehensive data and higher tenant demand.
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.