Location: Lawrence County, SD | Metro: Lawrence County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The ZIP code 57759, with a population of 398, is predominantly a homeowner-dominated area where only 3.8% of residents are renters. This low percentage of renters indicates that the demand for rental properties, including those supported by Section 8 vouchers, is relatively scarce. The median household income stands at $75,500, which provides a baseline for assessing the affordability of local rents.
In this ZIP code, the typical market rent is not specified, but it can be inferred that given the low number of renters, the rental market is likely tight and competitive. When comparing to the Fair Market Rent (FMR) of $1,040, which is the maximum amount set by HUD for a Section 8 voucher in the metro area for FY 2026, landlords can expect to charge close to this figure to attract tenants eligible for assistance.
To contextualize the impact of rent on local incomes, if we assume a typical market rent similar to the FMR, then the average rent would consume approximately 13.8% of the median household income. This calculation is based on an annualized rent cost of $12,480 ($1,040 per month), divided by the median household income of $75,500. While this percentage is manageable for most households, it underscores the importance of understanding the local economic landscape.
A landlord in ZIP 57759 should expect a tenant profile that is largely composed of individuals and families who rely on Section 8 vouchers due to the limited rental market. These tenants will have a significant portion of their housing costs subsidized, allowing them to afford living in an area with higher overall costs relative to their income. It's crucial for landlords to familiarize themselves with the requirements and processes of the Section 8 program to effectively manage their properties and ensure compliance with federal guidelines.
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.