Location: Jackson County, SD | Metro: Haakon County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The ZIP code 57567 has a population of 1,056 residents, with 22.4% being renters. This indicates that the area is not heavily dominated by renters; rather, it leans more towards homeownership. The median household income in this ZIP is $59,410, which provides a basis for understanding the financial capacity of potential tenants.
A typical market rent of $642 is notably lower than the Fair Market Rent (FMR) of $950 for the metro area, as determined for FY 2026. This suggests that landlords in 57567 can offer competitive rental rates without exceeding the limits set by the Housing Choice Voucher program, commonly known as Section 8. However, the relatively low percentage of renters implies that the demand for Section 8 vouchers may be less intense compared to areas with higher renter populations.
To contextualize the typical rent of $642 within the local economy, we calculate that it consumes approximately 10.8% of the median household income ($59,410). This is a manageable figure for many households, indicating that the cost of living through rent is reasonable and aligns well with the economic conditions of the area. In comparison to the FMR of $950, the market rent is about 67.6% of the FMR, suggesting that landlords could potentially increase their rents closer to the FMR without losing out on the voucher program benefits.
Landlords in ZIP 57567 should anticipate a tenant pool that includes individuals and families who are likely to be eligible for Section 8 vouchers due to the area's median income levels. These tenants will be seeking affordable housing options that fit within their budget constraints. Given the lower market rent relative to both the median income and the FMR, landlords can attract a steady stream of tenants who are looking for affordable homes, including those who rely on government assistance to cover their housing costs.
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.