Location: Lawrence County, SD | Metro: Butte County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
U.S. Census Bureau data (2024)
The ZIP code 57779 represents a unique rural setting with a very small population of just 347 residents. This area stands out due to its exceptionally low rental rate, with only 0.0% of the homes being rented. The lack of data on median income and median home values suggests that the housing market here is predominantly owner-occupied, with little to no presence of rental properties.
Despite the limited data available, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070. This figure serves as a benchmark for federal housing programs, including Section 8, but it's important to note that without specific market rent data for ZIP 57779, it's challenging to assess how closely local rents align with this estimate.
Given the characteristics of ZIP 57779, it is clear that this place would not suit a hands-off voucher operator. The scarcity of rental units means that there is minimal demand for Section 8 vouchers, and the potential for finding tenants who qualify for the program is extremely low. On the other hand, a hands-on value-add buyer might find opportunities to develop rental properties that cater to low-income families, leveraging the FMR of $1,070 to ensure a steady stream of income through the Section 8 program. However, such an investment would require careful consideration of the local economic conditions and the feasibility of attracting eligible tenants to 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.