Section 8 Fair Market Rent (FMR) for ZIP 58760 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

To determine if a landlord should invest in ZIP code 58760 for Section 8 properties, follow these decision points:

• Does the Fair Market Rent (FMR) of $990 cover the debt service on a property?
  • If the landlord's debt service is less than $990, then the answer is Yes. The FMR can support the mortgage payments.
  • If the landlord's debt service is more than $990, then the answer is No. The FMR will not be sufficient to cover the mortgage payments.
• Is the market rent above, at, or below the FMR of $990?
  • If the market rent is above $990, then the landlord has an opportunity to earn additional income from non-Section 8 tenants. This scenario suggests Yes.
  • If the market rent is exactly $990, then the landlord would break even with Section 8 tenants. This situation might still be viable depending on other factors such as property management costs and vacancy rates. This scenario suggests It Depends.
  • If the market rent is below $990, then the landlord may struggle to find non-Section 8 tenants willing to pay the FMR, which could lead to financial difficulties. This scenario suggests No.
• Are 10.3% of residents renters and is the Days on Market (DOM) for rental listings acceptable?
  • If the DOM is low, indicating quick turnover and high demand, and the percentage of renters is sufficient, then the answer is Yes. There is enough demand to sustain Section 8 rentals.
  • If the DOM is high, indicating slow turnover and low demand, then the answer is No. The demand for rentals may not be strong enough to support a Section 8 investment.
  • The 10.3% figure for renters is relatively low, suggesting that there may not be a robust rental market. However, this can still be a viable investment if the landlord can manage the property efficiently and keep vacancies low. This scenario suggests It Depends.

Note: Without specific data on property values, market rents, and DOM for ZIP code 58760, these answers are conditional upon those metrics. Ensure you gather detailed local market data before making a final decision.

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.