Location: Campbell County, SD | Metro: Emmons County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 57648 presents a unique set of conditions that affect both homeownership and rental dynamics. Despite the lack of specific figures for the median home value and the percentage of listings that have been reduced, the median days on market (DOM) being N/A suggests a stable market where homes are neither selling too quickly nor languishing unsold. This stability is crucial for understanding the future pricing power in the area.
On the rental side, the Forward Monthly Rent (FMR) for ZIP 57648 is projected at $930 for fiscal year 2026, while the current market rent stands at $758 based on Census ACS data. The gap between the projected FMR and the current market rent signals an upward pressure on rental rates, which could benefit landlords and small-portfolio investors looking to adjust their rents in line with future expectations. This trend suggests that the rental market is poised for growth, aligning with broader economic forecasts and demographic shifts.
Long-term investors in ZIP 57648 should consider the realistic appreciation thesis. With the median home value data missing, it's important to look at other indicators such as the trend in median DOM and the gap between current rents and future projections. If the median DOM remains steady and rental rates continue to rise towards the projected FMR, it indicates a healthy market that supports gradual appreciation in property values. However, without concrete figures on median home value and the percentage of reduced listings, the appreciation thesis is less definitive but still leans positive given the rental dynamics.
The setup implied by the available data points towards a balanced market with opportunities for both homeowners and renters. Landlords can expect to see modest increases in rental income, aligning with the expected rise in FMR. Homeowners and investors should anticipate a stable environment that allows for consistent growth rather than rapid fluctuations in property values.
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.