Pennington County/Box Elder/57719

57719

ZIPSAFMR

Pennington County, SD

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ZIP Investment Score

59Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,080	$970	9.6%
1 BR	$1,180	$1,080	8.7%
2 BR	$1,550	$1,600	8.9%
3 BR	$2,030	$1,770	7.4%
4 BR	$2,590	$2,270	10.9%
5 BR	$2,978	Not available	10.9%
6 BR	$3,425	Not available	10.9%
7 BR	$3,939	Not available	10.9%
8 BR	$4,530	Not available	10.9%

Purchase Price Calculator

Maximum purchase price

$175,843

Cost breakdown

+Likely effective rent$1,600

HUD FMR$1,550

Market rent$1,620

Est. payment standard (103%)Used$1,600

-Principal and interest-$889

Loan amount$140,674

Down payment$35,169

Rate6.50%

Term30 years

-Operating costs-$511

Property taxes-$176

Insurance-$175

Utilities$0

HOA$0

Management-$160

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$25,761(73.2% ROI)

Projected value

$189,364

Return breakdown

Property appreciation+$13,521

Loan principal paid down+$5,040

Rental cash flow+$7,200

5-year hold

+$44,095(125.4% ROI)

Projected value

$198,950

Return breakdown

Property appreciation+$23,107

Loan principal paid down+$8,988

Rental cash flow+$12,000

10-year hold

+$94,667(269.2% ROI)

Projected value

$225,094

Return breakdown

Property appreciation+$49,251

Loan principal paid down+$21,416

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.11ratio

FMR$1,080

Market$970

vs market+$110

FMR is above market; underwrite to market rent.

1.11

1 BR

1.09ratio

FMR$1,180

Market$1,080

vs market+$100

FMR is near market; voucher and private rents are aligned.

1.09

2 BR

0.96ratio

FMR$1,550

Market$1,620

vs market-$70

FMR is near market; voucher and private rents are aligned.

0.96

3 BR

1.15ratio

FMR$2,030

Market$1,770

vs market+$260

FMR is above market; underwrite to market rent.

1.15

4 BR

1.14ratio

FMR$2,590

Market$2,270

vs market+$320

FMR is above market; underwrite to market rent.

1.14

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 57719 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 57719 (Box Elder, SD) is $1,550 a month. That is up 10.7% from $1,400 in FY 2026. Box Elder is in the Rapid City, SD HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,430. Among 23 ZIP codes in Pennington County, 57719 has the 3rd-highest two-bedroom rent (county range $1,010–$1,820). The median county two-bedroom FMR in South Dakota is $1,033, so ZIP 57719 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 57719
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$960	$1,080	+12.5%	$972–$1,188
1BR	$1,070	$1,180	+10.3%	$1,062–$1,298
2BR	$1,400	$1,550	+10.7%	$1,395–$1,705
3BR	$1,860	$2,030	+9.1%	$1,827–$2,233
4BR	$2,300	$2,590	+12.6%	$2,331–$2,849

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 57719
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,080	$1,180	$1,550	$2,030	$2,590
FY 2026	$960	$1,070	$1,400	$1,860	$2,300
FY 2025	$790	$880	$1,160	$1,550	$1,860
FY 2024	$820	$920	$1,200	$1,640	$1,900
FY 2023	$700	$800	$1,050	$1,440	$1,620

Two-bedroom rent in nearby Pennington County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 57719
57701	$1,310	−15.5%
57702	$1,530	−1.3%
57703	$1,750	+12.9%
57706	$1,820	+17.4%
57709	$1,430	−7.7%
57718	$1,250	−19.4%
57719Current	$1,550	—
57725	$1,420	−8.4%
57730	$1,240	−20.0%
57732	$1,210	−21.9%
57744	$1,420	−8.4%
57745	$1,440	−7.1%

Questions about ZIP 57719 rents

How much will Section 8 pay for a two-bedroom in ZIP 57719?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,430, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,287 to $1,573 a month; under the ZIP-level Small Area FMR of $1,550 it would be $1,395 to $1,705. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 57719 in?

ZIP 57719 is in the Rapid City, SD HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,430.

How much did fair market rent change in ZIP 57719 for FY 2027?

The two-bedroom FMR rose 10.7%, from $1,400 in FY 2026 to $1,550 in FY 2027. Since FY 2023 it has risen 47.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent Box Elder, SD fair market rent SD statewide rents What is SAFMR?Data sources