Location: Perkins County, SD | Metro: Meade County, SD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
U.S. Census Bureau data (2024)
The ZIP code 57758 stands as a market in motion, characterized by a significant share of renters at 88.9%. This high percentage indicates a strong reliance on rental properties, which suggests continuous long-term housing pressure. Landlords and small-portfolio investors should take note of the Fair Market Rent (FMR) set at $1160 for the fiscal year 2024, a figure that provides a benchmark for rental pricing.
Despite the lack of specific data on market rents, days on market (DOM), and median home values, the high renter share implies a robust demand for rental units. The absence of price-cut share data could indicate that landlords are maintaining their rents at or near the FMR, suggesting that there is little need to reduce prices to attract tenants. This scenario points towards a market where demand might be outpacing supply, as evidenced by the high proportion of renters and the maintained FMR.
The dynamics of this market are clear: with such a large share of renters, there is a constant pressure on the availability of rental units. Landlords who can offer competitive rental rates, maintain quality properties, and provide desirable amenities will likely find themselves in a favorable position. The high renter share also signals that homeownership might be less prevalent, possibly due to economic factors, lifestyle choices, or other local conditions that make renting a more attractive option.
In conclusion, while we cannot definitively state the direction of the market's trajectory without historical data, the current snapshot of ZIP 57758 reveals a vibrant rental market with strong demand. The high renter share and stable FMR suggest a steady state of housing pressure, making it an important consideration for those looking to invest in the area.
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.