Lincoln 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).

$1,2282-bedroom FMR, FY2027

$1,0441-bedroom FMR, FY2027

$94,95080% income limit, family of 4 (FY2026)

$118,700Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Lincoln County is $1,228 a month, up 6.2% from $1,156 in FY2026. Lincoln County belongs to the Sioux Falls, SD HUD Metro FMR Area FMR area, 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 Lincoln County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$941	$865	+8.8%	$847 – $1,035
1 bedroom	$1,044	$986	+5.9%	$940 – $1,148
2 bedrooms	$1,228	$1,156	+6.2%	$1,106 – $1,350
3 bedrooms	$1,694	$1,586	+6.8%	$1,525 – $1,863
4 bedrooms	$2,053	$1,939	+5.9%	$1,848 – $2,258

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 Lincoln County that is typically $1,106 to $1,350 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?

$59,484median income of renter households

$1,260Median gross rent, all units

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

37%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $59,484 can afford about $1,487 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,228 is $259 (17.4%) less than that. To rent a two-bedroom at the FMR, a household needs $49,120 a year under the 30% rule, or $44,208 under the common landlord rule that income must be three times the rent.

Lincoln County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,260 ±$43
Median income of renter households	$59,484 ±$5,228
Renters paying 30% or more of income (cost-burdened)	37.0% ±6.0
Renters paying 50% or more (severely cost-burdened)	13.5% ±3.6
Renter households (where the share can be computed)	7,849

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$963	$1,260	+30.8%
Median renter household income	$48,353	$59,484	+23.0%
Renters paying 30%+ of income	38.1%	37.0%	−1.1 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.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,050 to $1,570 depending on the ZIP code.

All 53 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
57001	$780	$890	$1,050	$1,430	$1,750
57003	$1,130	$1,250	$1,470	$2,030	$2,460
57004	$780	$890	$1,070	$1,430	$1,750
57005	$950	$1,050	$1,240	$1,710	$2,070
57012	$1,180	$1,310	$1,540	$2,120	$2,570
57013	$780	$890	$1,050	$1,430	$1,750
57014	$780	$890	$1,050	$1,430	$1,750
57015	$800	$890	$1,050	$1,450	$1,760
57016	$980	$1,080	$1,410	$1,680	$2,360
57018	$780	$890	$1,050	$1,430	$1,750
57020	$1,070	$1,190	$1,400	$1,930	$2,340
57021	$850	$950	$1,110	$1,530	$1,860
57022	$880	$980	$1,150	$1,590	$1,930
57027	$800	$890	$1,050	$1,430	$1,750
57029	$780	$890	$1,050	$1,430	$1,750
57030	$780	$890	$1,050	$1,430	$1,750
57032	$1,200	$1,330	$1,570	$2,170	$2,620
57033	$870	$960	$1,130	$1,560	$1,890
57034	$790	$890	$1,070	$1,430	$1,750
57035	$780	$890	$1,050	$1,430	$1,750
57036	$950	$1,080	$1,260	$1,730	$2,120
57037	$780	$890	$1,050	$1,430	$1,750
57039	$850	$940	$1,110	$1,530	$1,860
57041	$900	$990	$1,160	$1,610	$1,950
57042	$800	$890	$1,150	$1,430	$1,920
57043	$780	$890	$1,050	$1,430	$1,750
57045	$780	$890	$1,050	$1,430	$1,750
57047	$780	$890	$1,050	$1,430	$1,750
57048	$780	$890	$1,050	$1,430	$1,750
57053	$970	$1,070	$1,260	$1,740	$2,110
57055	$990	$1,090	$1,290	$1,780	$2,150
57058	$890	$990	$1,160	$1,600	$1,940
57064	$1,170	$1,300	$1,530	$2,110	$2,560
57068	$1,000	$1,100	$1,300	$1,790	$2,170
57070	$780	$890	$1,050	$1,430	$1,750
57073	$780	$890	$1,050	$1,430	$1,750
57077	$1,040	$1,160	$1,360	$1,880	$2,270
57101	$900	$990	$1,170	$1,610	$1,960
57103	$880	$980	$1,150	$1,590	$1,920
57104	$860	$950	$1,120	$1,550	$1,870
57105	$900	$990	$1,170	$1,610	$1,960
57106	$1,000	$1,110	$1,300	$1,790	$2,170
57107	$1,010	$1,120	$1,320	$1,820	$2,210
57108	$1,190	$1,320	$1,550	$2,140	$2,590
57109	$900	$990	$1,170	$1,610	$1,960
57110	$970	$1,080	$1,270	$1,750	$2,120
57117	$900	$990	$1,170	$1,610	$1,960
57118	$900	$990	$1,170	$1,610	$1,960
57197	$900	$990	$1,170	$1,610	$1,960
57319	$780	$890	$1,050	$1,430	$1,750
57321	$780	$890	$1,060	$1,430	$1,750
57332	$780	$900	$1,050	$1,430	$1,750
57374	$800	$940	$1,080	$1,490	$1,760

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Lincoln County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $118,700 (FY2025: $112,200, +5.8%). 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%)	$24,950 +5.7%	$28,500 +5.8%	$32,050 +5.8%	$35,600 +5.8%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$41,550 +5.7%	$47,500 +5.8%	$53,450 +5.8%	$59,350 +5.8%	$64,100 +5.8%	$68,850 +5.8%	$73,600 +5.7%	$78,350 +5.7%
Low income (80%)	$66,500 +5.8%	$76,000 +5.8%	$85,500 +5.8%	$94,950 +5.8%	$102,550 +5.8%	$110,150 +5.8%	$117,750 +5.8%	$125,350 +5.8%

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.