Location: Ziebach County, SD | Metro: Corson County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
24.6% of residents in ZIP code 57644 are renters, indicating a significant portion of the population that could benefit from Section 8 housing assistance. In the context of the metro area's Fair Market Rent (FMR) set at $1,010 for fiscal year 2026, landlords can expect to receive this amount per unit if they choose to participate in the program. Given the median income of $68,229, it is clear that many families may struggle to afford market rents without financial aid. While the exact market rent and median home value are not available, the absence of these figures does not detract from the importance of the FMR in guiding rental pricing strategies.
The lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests stability in the local real estate market. However, landlords should still be aware of the economic conditions and ensure their properties meet the necessary standards for Section 8 eligibility. The FMR of $1,010 provides a benchmark for setting rents that are both competitive and compliant with federal guidelines, thus maximizing the potential tenant pool.
Landlords in ZIP 57644 can leverage the 24.6% renter share to target a broad audience interested in affordable housing options. With the median income being $68,229, there is a notable disparity between what families earn and what they might need to pay in rent without assistance. Therefore, offering Section 8 units can be a strategic move to attract tenants who might otherwise face difficulties finding suitable housing.
In conclusion, the participation in the Section 8 program in ZIP 57644 is financially viable, given the established FMR and the significant renter share. It offers a reliable source of rental income while helping families secure stable housing. Landlords should consider the benefits of joining this program, especially in light of the economic realities faced by local residents.
Section 8 Verdict: Viable and Beneficial for Landlords in ZIP 57644.
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.