Section 8 Fair Market Rent (FMR) for ZIP 57744 - 2027

Location: Oglala Lakota County, Unknown | Metro: Rapid City, SD HUD Metro FMR Area

Investment Score for ZIP 57744

N/A

Monthly Rent (2BR)

$1,420

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$990
1 Bedroom	$1,090
2 Bedrooms	$1,420
3 Bedrooms	$1,940
4 Bedrooms	$2,370
5 Bedrooms	$2,749
6 Bedrooms	$3,079
7 Bedrooms	$3,325
8 Bedrooms	$3,491

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,940	$605,057	0.32%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,421

Median Household Income

$106,250

Housing Units

1,185

Renter Percentage

8.7%

Occupancy Rate

88.8%

Renter Occupied

The ZIP code 57744, located in South Dakota, represents a stable and modestly growing market for real estate investment. With a mix of rental and homeownership opportunities, it offers a balanced environment for both landlords and small-portfolio investors seeking to capitalize on local trends.

The Fair Market Rent (FMR) for ZIP 57744 in fiscal year 2024 is set at $1,180, indicating the average monthly rent for a two-bedroom apartment that is considered affordable to low-income families.
The market rent, according to Census ACS data, stands at $1,375, suggesting that the actual rental prices in the area are slightly above the FMR, which could be favorable for landlords aiming to maximize their returns.
The median home value in ZIP 57744 is $613,946, reflecting a robust housing market where property values are relatively high compared to other regions in South Dakota.
Renters make up 8.7% of the population, which is a lower percentage than many urban areas but still provides a solid base for rental investments.
The median income for residents in this ZIP code is $106,250, which is significantly higher than the national average, indicating a strong economic foundation and potential for higher rents.
The Days on Market (DOM) data is currently N/A, which suggests that there might be limited recent sales activity, making it challenging to gauge the speed of property transactions in the area.

Investors should take note of the higher-than-average median home value and median income, which support a healthy real estate market. The gap between the Fair Market Rent and the actual market rent presents an opportunity for landlords to achieve competitive rental yields. However, the lower renter share implies that the demand for rentals is not as high as in more densely populated areas. Despite the lack of DOM data, the overall economic health of ZIP 57744 makes it a viable option for those looking to diversify their real estate portfolio with a focus on stability and moderate growth.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.