Location: Dewey County, SD | Metro: Dewey County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
19.5% of residents in ZIP code 57636 are renters, indicating a significant portion of the population relies on rental housing. This statistic aligns with the $950 Fair Market Rent (FMR) established for the metro area in fiscal year 2026, which sets the benchmark for rental properties under the Section 8 program. Despite the lack of specific market rent data, the FMR serves as a reliable indicator of what landlords can expect to receive for a property that meets the quality standards of the program.
The median income in ZIP 57636 is $112,375, suggesting that while there is a substantial demand for affordable housing, the overall economic health of the area supports higher rents. However, the absence of median home value data implies that homeownership might not be as prevalent or significant in influencing rental market dynamics compared to other areas.
With no data available on the days on market (DOM) or the percentage of price-cut shares, it's challenging to assess the competitiveness of the rental market or the typical duration for which units remain vacant. Landlords should consider these factors when setting their expectations for occupancy rates and potential vacancy periods.
To conclude, given the $950 FMR and the 19.5% renter share, ZIP code 57636 presents a viable opportunity for Section 8 landlords who can meet the necessary requirements and standards. The higher median income suggests a stable tenant base, but the lack of detailed market-specific data means landlords must conduct thorough local research to understand the nuances of the rental market. For small-portfolio investors, the area offers a solid foundation for investment, contingent upon meeting the criteria set forth by the Section 8 program.
Verdict: ZIP 57636 is a good fit for Section 8 landlords willing to adhere to program guidelines.
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.