Location: Perkins County, SD | Metro: Perkins County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The ZIP code 57620 stands out due to its unique demographic and economic characteristics. With only 564 residents, it has a relatively low population density. However, the rental market is notable, as 20.9% of residents rent their homes. The median income in this area is $90,500, indicating a middle-class community. The median home value is significantly higher at $171,080, suggesting that homeownership is valued but potentially out of reach for some renters.
Turning to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,210. This figure is notably higher than the market rate of $932, as reported by the Census Bureau's American Community Survey (ACS). This disparity means that landlords accepting Section 8 vouchers can potentially charge more than the typical market rate, which could be beneficial in attracting tenants who qualify for assistance.
Given the data signature, ZIP 57620 appears to be a stable market. The high median home value indicates a strong local economy where homeownership is feasible for many, while the FMR exceeding the market rate suggests a supportive environment for Section 8 vouchers. Landlords and small-portfolio investors should consider these factors when deciding to accept Section 8 tenants, as it could provide a steady stream of income without the risk of market fluctuations.
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.