Location: Jackson County, SD | Metro: Rapid City, 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 | $1,000 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,830 | $331,236 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 57790 stands out with a unique data profile that sets it apart from other areas. With a population of just 1,147 residents, it has a relatively low percentage of renters at 18.8%, indicating a predominantly owner-occupied community. The median income here is $75,096, suggesting a middle-class demographic. The median home value is notably high at $323,416, reflecting a stable housing market.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 57790 in fiscal year 2024 is set at $910. This is higher than the market rent average of $843, based on Census ACS data. This discrepancy means that landlords in this area can potentially benefit from the higher FMR rates when leasing properties under the Section 8 program, as tenants would have the financial backing to meet these slightly elevated rents.
The data signature for ZIP 57790 reads as "stable." Despite the modest rental market share, the higher median income and FMR rates suggest that the area is financially secure and likely to maintain steady property values and tenant reliability. For small-portfolio investors considering Section 8 participation, this ZIP code offers a balanced environment where the risk is mitigated by the stability of the local economy and housing market.
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.