HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Buffalo County, South Dakota (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Buffalo County is $1,204 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,204
FY 2026, utilities included
Payment standard range
$1,084 to $1,324
90% to 110% of FMR
Income to afford 2BR
$48,160
per year, at 30% of income
Rank in South Dakota
3rd of 66
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Buffalo moves to $1,409. That's up 17%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Buffalo actually rent for?
Search any address in Buffalo for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $830 | $747 to $913 | $33,200 | $15.96/hr | +11.9% |
| 1 bedroom | $918 | $826 to $1,010 | $36,720 | $17.65/hr | +11.3% |
| 2 bedroom | $1,204 | $1,084 to $1,324 | $48,160 | $23.15/hr | +11.3% |
| 3 bedroom | $1,444 | $1,300 to $1,588 | $57,760 | $27.77/hr | +10.7% |
| 4 bedroom | $1,864 | $1,678 to $2,050 | $74,560 | $35.85/hr | +10.4% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,144 | $1,930 to $2,358 |
| 6 bedroom Estimate | $2,423 | $2,181 to $2,665 |
| 7 bedroom Estimate | $2,703 | $2,433 to $2,973 |
| 8 bedroom Estimate | $2,982 | $2,684 to $3,280 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Buffalo, that runs from $830 for a studio up to $1,864 for four bedrooms, all five rates in the table above.
Because Buffalo sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Fort Thompson included.
Among South Dakota's 66 counties, Buffalo ranks 3rd for two-bedroom FMR. That's about 30% above the state median of $929 and about 18% above the national median county at $1,018. About 1,859 people live here, 59th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $980 in 57341 (Gann Valley) and $1,210 in 57339 (Fort Thompson), with the 2 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Buffalo somewhere between $1,084 and $1,324. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,204 a month is affordable, by HUD's 30% rule, on an income of roughly $48,160 a year. Put another way, $23 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,084) | HAP at 100% ($1,204) | HAP at 110% ($1,324) |
|---|---|---|---|---|
| $2,500 | $750 | $334 | $454 | $574 |
| $4,000 | $1,200 | $0 | $4 | $124 |
Rate history
The two-bedroom rate went up 11% from FY 2025 ($1,082) to FY 2026 ($1,204). Since FY 2020 it's up 55% in total, about 7.5% a year. The South Dakota median moved up 7% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $532 | $591 | $779 | $971 | $1,180 | — |
| FY 2021 | $503 | $546 | $719 | $894 | $1,121 | -7.7% |
| FY 2022 | $541 | $575 | $757 | $936 | $1,219 | +5.3% |
| FY 2023 | $611 | $667 | $878 | $1,069 | $1,431 | +16.0% |
| FY 2024 | $720 | $809 | $1,063 | $1,285 | $1,708 | +21.1% |
| FY 2025 | $742 | $825 | $1,082 | $1,304 | $1,688 | +1.8% |
| FY 2026 | $830 | $918 | $1,204 | $1,444 | $1,864 | +11.3% |
| FY 2027 | $981 | $1,077 | $1,409 | $1,679 | $2,222 | +17.0% |
Nearby counties
Questions people ask
$1,204 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $830 for a studio, $918 for one bedroom, $1,444 for three and $1,864 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Buffalo actually go for?
HUD's number is one input. Search any address in Buffalo for a rent estimate built from nearby comps. 3 free searches, no card.
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