Location: Perkins County, SD | Metro: Harding County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The ZIP code 57651, located in a county with limited data available, stands out due to its unique characteristics. With only 191 residents, it has a very low population density. The rental rate of 27.8% suggests that a significant portion of the residents are tenants, which could indicate a demand for rental properties. However, the median income of $94,559 is relatively high, potentially suggesting that many residents can afford homeownership.
Despite the high median income, the lack of data on median home value indicates either an extremely small number of homes sold recently or that the area is predominantly rental-focused. This ambiguity makes it challenging to assess the overall housing market stability. Moving on to the voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950. This figure represents the maximum amount that the federal government will pay landlords for participating in the Section 8 program. Unfortunately, there is no specific market rent data for ZIP 57651, which means we cannot directly compare the FMR to local market rates.
Given the limited data points available, it's difficult to definitively label the ZIP 57651 as stable or transitional. The high median income combined with the low population count and the substantial percentage of renters does suggest some level of transition within the housing market. Landlords and small-portfolio investors should proceed with caution, focusing on understanding the local rental dynamics and the potential impact of the FMR on their property valuations and tenant selection strategies.
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.