Location: Oglala Lakota County, Unknown | Metro: Bennett County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
0.0% of residents in ZIP code 57716 are renters, indicating a predominantly owner-occupied area. This statistic suggests that landlords might find limited opportunities in this market compared to areas with higher renter shares. However, for those interested in the Section 8 program, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,040, which represents the maximum amount a landlord can charge for a rental unit under the program. It's important to note that there is no available data on market rents or median home values in this area, making it challenging to compare the FMR to local market conditions. Similarly, the lack of data on median income means that assessing the financial stability of potential tenants could be difficult without further research. The days on market (DOM) figure is also not provided, which would typically help gauge how quickly properties are rented out in this area. Lastly, the absence of information regarding the percentage of listings that have had their prices cut indicates that there may not be significant competition among landlords in setting rental rates. Given these specifics, the verdict on participating in the Section 8 program in ZIP code 57716 is cautious; while the FMR provides a clear guideline for rental pricing, the lack of comprehensive market data makes it difficult to assess overall investment viability.
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.