Section 8 Fair Market Rent (FMR) for ZIP 57570 - 2027
Location: Todd County, SD | Metro: Todd County, SD
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $710 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$51,788
When considering whether to invest in ZIP code 57570 for Section 8 properties, follow this decision tree:
- Does the Fair Market Rent (FMR) of $930 clear debt service on a property?
- If the N/A property's debt service is less than $930, then the answer is Yes. The FMR can cover the costs associated with owning the property.
- If the debt service exceeds $930, then the answer is No. The FMR would not be sufficient to cover the financial obligations of the property.
- Is the market rent of $593 above, at, or below the FMR?
- The market rent of $593 is below the FMR of $930. This suggests that there is room for higher rents under Section 8 without exceeding the FMR limit.
- Are 62.6% renters plus N/A-day days on market (DOM) enough demand?
- A high percentage of renters at 62.6% indicates strong rental demand. However, the exact number of days on market (DOM) is missing, which is critical to determine if the demand is sufficient. If the DOM is low, meaning properties are rented quickly, then the answer is Yes. Low DOM signifies a healthy rental market.
- If the DOM is high, indicating slow turnover, then the answer is No. High DOM suggests weaker demand or other issues affecting the rental market.
- If the DOM is moderate, the answer is It Depends. Moderate DOM means the demand is neither overwhelmingly positive nor negative, so further analysis is required to understand the specific dynamics of the market in ZIP 57570.
In summary, if the debt service is covered by the FMR, the market rent is below the FMR, and the DOM is low, then the answer is Yes. These conditions indicate that ZIP 57570 could be a viable investment for Section 8 properties. Conversely, if any of these criteria are not met, particularly if the DOM is high, then the answer is No. A moderate DOM requires additional investigation into local market conditions before making an informed decision.
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.