HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Fall River County, South Dakota (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in Fall River County is $1,289 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$1,289
+11.9% from FY 2026
Payment standard
$1,160–$1,418
90% to 110% of the FMR, two-bedroom
Income to afford
$51,560
a year, with rent at 30% of income
Rank in South Dakota
6th of 66
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $898 | $808–$988 | $35,920 | $17.27/hr | +13.1% |
| 1 bedroom | $985 | $887–$1,084 | $39,400 | $18.94/hr | +12.2% |
| 2 bedroom | $1,289 | $1,160–$1,418 | $51,560 | $24.79/hr | +11.9% |
| 3 bedroom | $1,616 | $1,454–$1,778 | $64,640 | $31.08/hr | +17.0% |
| 4 bedroom | $2,033 | $1,830–$2,236 | $81,320 | $39.10/hr | +14.0% |
Five to eight 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 | $2,338 | $2,104–$2,572 |
| 6 bedroom Estimate | $2,643 | $2,379–$2,907 |
| 7 bedroom Estimate | $2,948 | $2,653–$3,243 |
| 8 bedroom Estimate | $3,253 | $2,928–$3,578 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Fall River actually rent for?
Search any address in Fall River for a rent estimate built from nearby comps, with the HUD figure right next to it.
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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 Fall River somewhere between $1,160 and $1,418. 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.
$1,289 a month is affordable, by HUD's 30% rule, on an income of roughly $51,560 a year. Put another way, $25 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,160 | Voucher pays at 100%$1,289 | Voucher pays at 110%$1,418 |
|---|---|---|---|---|
| $2,500 | $750 | $410 | $539 | $668 |
| $4,000 | $1,200 | $0 | $89 | $218 |
Rate history
The two-bedroom rate went up 12% from FY 2026 ($1,152) to FY 2027 ($1,289). Since FY 2020 it's up 77% in total, about 8.5% a year. The South Dakota median moved up 11% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $497 | $608 | $728 | $1,050 | $1,275 | — |
| FY 2021 | $512 | $555 | $732 | $945 | $1,267 | +0.5% |
| FY 2022 | $610 | $648 | $853 | $1,054 | $1,373 | +16.5% |
| FY 2023 | $705 | $770 | $1,013 | $1,233 | $1,652 | +18.8% |
| FY 2024 | $811 | $910 | $1,196 | $1,446 | $1,921 | +18.1% |
| FY 2025 | $731 | $819 | $1,077 | $1,302 | $1,729 | -9.9% |
| FY 2026 | $794 | $878 | $1,152 | $1,381 | $1,783 | +7.0% |
| FY 2027In effect | $898 | $985 | $1,289 | $1,616 | $2,033 | +11.9% |
About this rate
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 2027 that's October 1, 2026 through September 30, 2027. In Fall River, that runs from $898 for a studio up to $2,033 for four bedrooms, all five rates in the table above.
Because Fall River 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, Edgemont included.
Among South Dakota's 66 counties, Fall River ranks 6th for two-bedroom FMR. That's about 25% above the state median of $1,033 and about 21% above the national median county at $1,063. About 7,258 people live here, 25th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,190 in 57735 (Edgemont) and $1,290 in 57763 (Oelrichs), with the 5 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.
Nearby counties
Two-bedroom FMR, with how each compares to Fall River.
Custer County
23 mi · 8,892 people
$1,242
-4%
Oglala Lakota County
47 mi · 13,491 people
$1,014
-21%
Pennington County
55 mi · 113,512 people
$1,430
+11%
Bennett County
78 mi · 3,345 people
$1,395
+8%
Lawrence County
78 mi · 27,233 people
$1,207
-6%
Meade County
88 mi · 30,546 people
$1,357
+5%
Butte County
94 mi · 10,676 people
$1,278
-1%
Jackson County
94 mi · 2,802 people
$1,014
-21%
Questions people ask
$1,289 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $898 for a studio, $985 for one bedroom, $1,616 for three and $2,033 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
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
The income a household needs for a given rent
What does a rental in Fall River actually go for?
HUD's number is one input. Search any address in Fall River for a rent estimate built from nearby comps. Free to start, no card.
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