Location: Harding County, SD | Metro: Adams County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 58649 is located in a rural area with a small population of 354 residents. The community has a relatively low percentage of renters at 21.2%, which indicates that homeownership is more prevalent. However, the median household income stands at $68,839, suggesting that while not affluent, the area is financially stable.
In terms of housing, the median home value is not available, but this could be due to the limited number of properties in the area. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930. Given the lack of data on local market rents, it's challenging to assess the exact economic landscape for rental properties, but the FMR provides a benchmark for potential returns.
For a hands-off voucher operator, the area presents an opportunity due to the stable income levels and the presence of Section 8 tenants who can afford the FMR rate. However, the low percentage of renters might mean fewer potential tenants. On the other hand, a hands-on value-add buyer could find opportunities to improve and manage a few rental properties effectively, given the manageable size of the ZIP code and the financial stability of the residents.
In summary, ZIP 58649 is suitable for both hands-off and hands-on operators, depending on their investment strategy. For those looking to capitalize on the federal rental support, the area offers a stable environment. Meanwhile, for those willing to actively manage properties, there is room for improvement and potential growth in the rental market.
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.