Location: Tripp County, SD | Metro: Tripp County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,450 |
| 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)
ZIP code 57584, located within the Tripp County, SD metro, has a Fair Market Rent (FMR) of $970 for fiscal year 2026. This figure represents the median rent for a two-bedroom apartment, which is a key benchmark for landlords and small-portfolio investors operating under the Section 8 program.
The FMR of $970 for ZIP 57584 is crucial for understanding its position relative to other ZIP codes in the county. However, without specific FMR data for comparison, we can infer that if this amount is lower than the average FMR across Tripp County, it could indicate a value pocket where rents are relatively affordable but still meet the criteria for Section 8 eligibility. Conversely, if the $970 FMR is higher than the county average, it might suggest a premium sub-market where rental properties command a higher price due to unique amenities or demand factors.
The absence of market rent and home value data for ZIP 57584 limits our ability to draw direct comparisons with other areas in the county. Nevertheless, the 8.7% renter share provides insight into the local housing dynamics. A higher-than-average renter share in a ZIP code can be indicative of a greater reliance on rental housing, possibly driven by economic conditions, workforce demographics, or other factors influencing homeownership rates.
In the context of Section 8 investments, a ZIP code with a significant renter share like 57584 can be particularly attractive. If the home values in this ZIP are below the county average, it could signal a sweet spot for Section 8 properties, where the concentration of renters aligns with lower property costs, potentially offering higher returns on investment.
To conclusively determine whether ZIP 57584 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Tripp County, SD metro, specific comparative data on market rents and home values would be necessary. The current data suggests a potential value pocket due to the combination of a defined FMR and a notable renter share, though this inference is limited by the lack of broader metro-wide benchmarks.
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.