Location: Harding County, SD | Metro: Harding County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 57650 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $950 per month for FY 2026. This figure is specific to this ZIP code, reflecting the localized rental market conditions.
The SAFMR represents the maximum amount that the Housing Choice Voucher program will pay for a unit of housing. However, the actual payment to landlords depends on several factors:
To illustrate, let's assume a tenant has an adjusted income that requires them to pay 30% of $950, which amounts to $285. If the utility allowance is $100, then the landlord would receive $285 from the tenant and $765 from the government, totaling $1,050. This calculation assumes that the tenant's portion and the utility allowance do not exceed the SAFMR.
Given that the local market rent is currently unavailable, it's important to understand that if the market rent exceeds the SAFMR, landlords may face a reimbursement gap. Conversely, if the market rent is below the SAFMR, landlords could see a surplus. In ZIP 57650, landlords can expect a reimbursement of up to $950 from the government, plus the tenant's contribution and any applicable utility allowance.
The typical reimbursement gap or surplus for a two-bedroom voucher in ZIP 57650 cannot be definitively stated without knowing the local market rent. However, landlords should be aware that the government's contribution is fixed at the SAFMR level, while the tenant's share and utility allowance are variable. Therefore, landlords must ensure that their rental rates align with these economic realities to avoid financial shortfalls.
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.