Location: Ziebach County, SD | Metro: Dewey County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 57623, located in Ziebach County, SD, reveals several key points for potential Section 8 real-estate investments.
The first question is whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, which is significantly higher than the current market rent of $694 according to the Census ACS data. This indicates that landlords participating in the Section 8 program could potentially see a substantial increase in rental income, making the rent math favorable for those willing to accept Section 8 tenants.
Secondly, regarding the affordability of acquisitions, the data shows that the median home value, days on market (DOM), and percentage of homes needing price cuts are not available for this specific ZIP code. This lack of information makes it difficult to assess the ease or cost of acquiring properties in the area. Landlords should conduct further research to understand local real estate trends and costs before making any investment decisions.
Finally, there is a clear tenant demand in ZIP 57623. With a total population of 902 and 29.5% of residents being renters, there are approximately 266 potential tenants who might be interested in Section 8 housing. Given the limited number of residents, securing a steady stream of tenants may depend on the quality and location of the property.
Verdict: The rent math in ZIP 57623 is favorable for Section 8 investments due to the significant gap between the FMR and market rent. However, the lack of specific data on median home values, DOM, and price-cut shares complicates the assessment of acquisition affordability. Despite these uncertainties, the presence of a substantial renter population suggests strong tenant demand, making this ZIP code a viable option for landlords looking to participate in the Section 8 program.
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.