Location: Corson County, SD | Metro: Corson County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
42.9% of residents in ZIP code 57658 are renters, indicating a significant demand for rental properties in the area. This aligns well with the $950 Fair Market Rent (FMR) set for the metro area in fiscal year 2026, which is nearly double the $450 average market rent reported by the Census ACS. The disparity between these two figures suggests an opportunity for landlords to potentially increase rents closer to the FMR without losing tenants, given the high renter share. However, investors should note the median income of $23,000, which is quite low and could limit the ability of residents to pay higher rents. Despite this, the lack of data on days on market (DOM) and the percentage of price-cut shares indicates a stable rental market with little indication of overpricing or difficulty in finding tenants. Given the high proportion of renters and the significant gap between the FMR and current market rents, landlords and small-portfolio investors can consider increasing their rents towards the FMR level, provided they offer competitive amenities and maintenance standards. The Section 8 program, with its set FMR, can be a reliable source of steady income for landlords in 57658, as it matches the needs of the lower-income population while ensuring a more stable rent compared to the volatile market rates. In conclusion, ZIP code 57658 presents a favorable environment for Section 8 participation, offering a balance between demand and affordability.
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.