Section 8 Fair Market Rent (FMR) for ZIP 57747 - 2027

Location: Fall River County, SD | Metro: Custer County, SD HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$880
1 Bedroom	$960
2 Bedrooms	$1,260
3 Bedrooms	$1,590
4 Bedrooms	$2,000
5 Bedrooms	$2,320
6 Bedrooms	$2,598
7 Bedrooms	$2,806
8 Bedrooms	$2,946

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,839

Median Household Income

$68,443

Housing Units

3,276

Renter Percentage

26.4%

Occupancy Rate

92.3%

Renter Occupied

798

The town of Washingtonville, located in ZIP code 57747, is situated in a rural area of New York State. Known for its serene environment and close-knit community, it offers a unique opportunity for real estate investors looking to tap into the local housing market. This analysis delves into key metrics that define the investment landscape in Washingtonville.

Fair Market Rent (FMR): The FMR for Washingtonville is set at $1,140 for fiscal year 2026, indicating the maximum amount HUD will pay for low-income housing rental assistance in this area.
Market Rent: According to the latest Census American Community Survey (ACS) data, the average market rent in the area is $920, suggesting a potential upside for landlords who can justify higher rents based on property quality and location.
Median Home Value: The median home value in Washingtonville is $326,438, reflecting the overall affordability of the housing market and providing a benchmark for property values.
Renter Share: With 26.4% of residents being renters, there is a notable demand for rental properties, though it's lower compared to urban areas where renter shares are typically higher.
Median Income: The median household income in the area stands at $68,443, which is a critical figure for assessing the ability of residents to afford housing costs.

Investors considering Washingtonville should note the gap between the Fair Market Rent and the actual market rent, indicating a potential to increase rental rates without exceeding what is considered affordable by HUD standards. The median home value suggests a stable and moderately priced market, suitable for those looking to enter without large capital outlays. However, the relatively low renter share might imply a competitive rental market, requiring high-quality properties to attract tenants. Given the median income, residents have the financial capacity to support slightly above-average rental prices, making Washingtonville a viable option for those seeking steady returns with manageable risk.

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.