Section 8 Fair Market Rent (FMR) for ZIP 58255 - 2027

FY 2027 Fair Market Rent Rates

To profile ZIP code 58255 as a potential Section 8 tenant pool, we must first address the limitations of the available data. The population, percentage of renters, and median household income figures are marked as 'N/A', indicating that specific statistics are either unavailable or not applicable at this time.

Despite these gaps, we can still draw some conclusions based on the information that is provided. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870. This figure serves as a benchmark for understanding the rental market dynamics in ZIP 58255.

In areas where the median household income is below the FMR, it's common to see a higher concentration of voucher holders. However, without knowing the median income of ZIP 58255, it's challenging to determine if this is a renter-heavy ZIP with deep voucher demand or an area dominated by homeowners where vouchers are less prevalent.

The absence of data on market rents also complicates the analysis. Typically, when analyzing a ZIP code, one would compare the FMR to the average market rent to understand how much of the local income goes towards rent. If the market rent is higher than the FMR, it suggests that typical rents consume a larger portion of local incomes, potentially making it harder for tenants to afford housing without assistance.

Given the lack of detailed income and rent data, landlords in ZIP 58255 should prepare for a tenant pool that may heavily rely on vouchers, especially if the local economy is weak and job opportunities are limited. The $870 FMR provides a cap on the rent that voucher holders can pay, which landlords must consider when setting their rental rates.

A landlord here should expect tenants who need financial assistance to cover the cost of housing. It's important to ensure compliance with HUD regulations and to be prepared for the administrative process involved with accepting Section 8 vouchers. While the exact demographic makeup remains unclear, the reliance on voucher programs suggests a focus on affordability and government assistance in securing housing.

Data Sources: FMR data from HUD (2027).

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.