Location: Ziebach County, SD | Metro: Dewey County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 57625 presents an interesting scenario for both renters and landlords. The median household income here stands at $43,235. Considering the market rate rent of $713 per month (as reported by the Census Bureau's American Community Survey), it becomes evident that the average household faces significant financial pressure to cover housing costs.
To put this into perspective, let’s examine how this compares to the voucher payment standards. The Fair Market Rent (FMR) for this area, as set for fiscal year 2026, is $970. This means that the typical market rate is below the FMR, indicating that the rental market in ZIP 57625 is somewhat below the average cost expected for the region.
Given that 45.1% of the 3,775 residents are renters, the competition among landlords is moderate. However, the affordability gap between the median income and the market rate rent highlights a challenge for many households. At $713 per month, rent represents approximately 21% of the median income, which is within the generally accepted guideline of spending no more than 30% of income on housing. Nevertheless, this still leaves little room for other expenses, especially considering that the FMR is higher at $970.
The takeaway for landlords is clear: while the market rate is lower than the FMR, making it easier for some renters to pay out-of-pocket, the reliance on government vouchers will likely be high due to the income constraints faced by many households. Landlords should weigh the benefits of accepting vouchers, such as guaranteed payments, against the administrative complexities they might entail. For those who decide to focus solely on cash-paying tenants, the strategy must account for the limited disposable income available to most renters in this area.
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.