Codington County, SD: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,2332-bedroom FMR, FY2027

$9431-bedroom FMR, FY2027

$78,00080% income limit, family of 4 (FY2026)

$97,500Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Codington County is $1,233 a month, up 13.9% from $1,083 in FY2026. Codington County belongs to the Codington County, SD FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Codington County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$871	$747	+16.6%	$784 – $958
1 bedroom	$943	$825	+14.3%	$849 – $1,037
2 bedrooms	$1,233	$1,083	+13.9%	$1,110 – $1,356
3 bedrooms	$1,504	$1,319	+14.0%	$1,354 – $1,654
4 bedrooms	$1,715	$1,605	+6.9%	$1,544 – $1,886

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Codington County that is typically $1,110 to $1,356 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$45,702median income of renter households

$938Median gross rent, all units

25%Rent-to-income ratio (median rent ÷ median renter income)

36%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $45,702 can afford about $1,143 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,233 is $90 (7.9%) more than that. To rent a two-bedroom at the FMR, a household needs $49,320 a year under the 30% rule, or $44,388 under the common landlord rule that income must be three times the rent.

Codington County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$938 ±$46
Median income of renter households	$45,702 ±$2,161
Renters paying 30% or more of income (cost-burdened)	36.2% ±5.5
Renters paying 50% or more (severely cost-burdened)	18.0% ±3.6
Renter households (where the share can be computed)	3,548

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$754	$938	+24.4%
Median renter household income	$31,929	$45,702	+43.1%
Renters paying 30%+ of income	47.9%	36.2%	−11.7 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Codington County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $97,500 (FY2025: $92,500, +5.4%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$20,500 +3.8%	$23,400 +3.8%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$34,150 +3.8%	$39,000 +3.7%	$43,900 +3.8%	$48,750 +3.8%	$52,650 +3.7%	$56,550 +3.8%	$60,450 +3.8%	$64,350 +3.8%
Low income (80%)	$54,600 +3.8%	$62,400 +3.8%	$70,200 +3.8%	$78,000 +3.9%	$84,250 +3.8%	$90,500 +3.8%	$96,750 +3.9%	$103,000 +3.9%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.