Location: Meade County, SD | Metro: Meade County, SD HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $397,347 | 0.35% | F |
| 3BR | $1,950 | $468,390 | 0.42% | F |
| 4BR | $2,360 | $552,361 | 0.43% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 57769, located in Piedmont, SD, within the Meade County, SD HUD Metro FMR Area, does not work favorably for landlords. The Fair Market Rent (FMR) set at $1280 for the fiscal year 2024 contrasts sharply with the actual market rent of $1,125 as reported by the Census ACS. This discrepancy means that landlords might struggle to cover costs and earn profits if they adhere strictly to the FMR guidelines.
Acquisition in this area is relatively affordable due to the median home value of $473,349. However, the lack of data on days on the market (DOM) and the minimal 0.1% price-cut share suggest that the housing market is stable but not particularly dynamic. Landlords looking to acquire properties should consider this stability when making investment decisions.
Tenant demand in ZIP 57769 is limited. With a total population of 4,029 and only an 8.9% renter share, there are fewer potential tenants available. This low demand could make it challenging to find and retain tenants, especially if rents are set at or near the FMR level.
In summary, while the acquisition cost is reasonable, the mismatch between FMR and market rent, coupled with limited tenant demand, suggests that this area may not be ideal for landlords and small-portfolio investors seeking high returns. The stability of the housing market offers some assurance against sudden price drops, but the overall environment is not conducive to maximizing rental income.
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.