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Pennington County/Keystone/57751

57751

ZIPSAFMR
Pennington County, SD
Zillow

ZIP Investment Score

38Below average

095130300
BRFMR
Eff. Rent
0 BR$980$980
1 BR$1,080$1,080
2 BR$1,410$1,410
3 BR$1,870$1,870
4 BR$2,350$2,350
5 BR$2,703Not available
6 BR$3,108Not available
7 BR$3,574Not available
8 BR$4,110Not available

Purchase Price Calculator

Maximum purchase price
$147,609

Cost breakdown

+Likely effective rent$1,410
HUD FMRUsed$1,410
Market rentN/A
Est. payment standardN/A
-Principal and interest-$746
Loan amount$118,087
Down payment$29,522
Rate6.50%
Term30 years
-Operating costs-$464
Property taxes-$148
Insurance-$175
Utilities$0
HOA$0
Management-$141
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,781(77.2% ROI)
Projected value
$158,959
Return breakdown
Property appreciation+$11,350
Loan principal paid down+$4,231
Rental cash flow+$7,200
5-year hold
+$38,942(131.9% ROI)
Projected value
$167,006
Return breakdown
Property appreciation+$19,397
Loan principal paid down+$7,545
Rental cash flow+$12,000
10-year hold
+$83,320(282.2% ROI)
Projected value
$188,952
Return breakdown
Property appreciation+$41,343
Loan principal paid down+$17,977
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 57751 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 57751 (Keystone, SD) is $1,410 a month. That is up 39.6% from $1,010 in FY 2026. Keystone 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, 57751 has the 11th-highest two-bedroom rent (county range $1,010–$1,820). The median county two-bedroom FMR in South Dakota is $1,033, so ZIP 57751 is 36% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 57751
BedroomsFY 2027Change90–110% range
Studio$980+40.0%$882–$1,078
1BR$1,080+38.5%$972–$1,188
2BR$1,410+39.6%$1,269–$1,551
3BR$1,870+38.5%$1,683–$2,057
4BR$2,350+46.9%$2,115–$2,585

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 57751
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$980$1,080$1,410$1,870$2,350
FY 2026$700$780$1,010$1,350$1,600
FY 2025$710$800$1,050$1,460$1,670
FY 2024$610$690$910$1,240$1,390
FY 2023$550$630$830$1,170$1,320

Two-bedroom rent in nearby Pennington County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 57751
57725$1,420+0.7%
57730$1,240−12.1%
57732$1,210−14.2%
57744$1,420+0.7%
57745$1,440+2.1%
57750$1,210−14.2%
57751Current$1,410—
57752$1,010−28.4%
57754$1,210−14.2%
57761$1,210−14.2%
57767$1,210−14.2%
57775$1,210−14.2%

Questions about ZIP 57751 rents

How much will Section 8 pay for a two-bedroom in ZIP 57751?

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 $1,410 it would be $1,269 to $1,551. 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 57751 in?

ZIP 57751 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 57751 for FY 2027?

The two-bedroom FMR rose 39.6%, from $1,010 in FY 2026 to $1,410 in FY 2027. Since FY 2023 it has risen 69.9%.

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 rentKeystone, SD fair market rentSD statewide rentsWhat is SAFMR?Data sources