Location: Harding County, SD | Metro: Bowman County, ND
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,020 |
| 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 Section 8 housing market in ZIP code 58653, located in Harding County, SD, offers a unique opportunity for real-estate investors. The HUD Fair Market Rent (FMR) for the area is set at $930 for fiscal year 2026, which is notably higher than the market rent of $773 reported by the Census ACS.
This difference means that voucher tenants in ZIP 58653 can generally cashflow at the FMR rate, providing a stable income stream for landlords and small-portfolio investors. However, the actual cashflow potential will depend on the condition and amenities of the units being rented. Premium units, those with better finishes and modern conveniences, will likely command closer to the FMR rate, ensuring positive cashflow even when considering maintenance and vacancy costs.
The median home value in the area is not available, making it challenging to derive an accurate rent-to-price ratio. This lack of data suggests that the local real estate market might be less active or have fewer transactions, which could impact the overall investment strategy. Given the absence of data on the median days on market (DOM) and the percentage of homes that experienced price cuts, it's reasonable to assume that the buy-versus-rent dynamics favor renting due to the higher FMR compared to the current market rent.
The strongest investor angle in ZIP 58653 is cashflow. With the HUD FMR exceeding the current market rent, landlords who offer quality units can expect steady rental income without the risks associated with property appreciation or market volatility. This makes the area particularly attractive for those seeking reliable returns through rental properties.
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.