Location: Harding County, SD | Metro: Harding County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 landlords in ZIP code 57755 presents several challenges that must be carefully considered. Tenant turnover is a significant concern, especially when comparing the market rent to the $930 Fair Market Rent (FMR) for the fiscal year 2026 in the metropolitan area. This discrepancy can lead to frequent changes in occupancy, which in turn affects stability and cash flow. Additionally, the vacancy exposure is notable due to the unknown days on market (DOM), indicating potential difficulty in filling vacancies promptly. Landlords must also be prepared for deferred maintenance exposure, as the median income of $68,125 may not cover extensive repairs or upgrades, leaving the property owner responsible for these costs.
However, these risks are somewhat mitigated by the high renter density in the area, with 24.4% of residents being renters. High renter density typically correlates with higher demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of tenants. The presence of many renters often indicates a robust market for subsidized housing, reducing the likelihood of prolonged vacancies.
In summary, despite the potential issues with tenant turnover, vacancy exposure, and deferred maintenance, the high proportion of renters in ZIP 57755 suggests a moderate level of demand for Section 8 properties. Therefore, the overall risk for a first-time Section 8 landlord in this ZIP code is assessed as moderate.
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.