Lyman 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).

$1,0862-bedroom FMR, FY2027

$8301-bedroom FMR, FY2027

$75,60080% income limit, family of 4 (FY2026)

$87,500Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Lyman County is $1,086 a month, up 15.5% from $940 in FY2026. Lyman County belongs to the Lyman 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 Lyman County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$756	$648	+16.7%	$681 – $831
1 bedroom	$830	$716	+15.9%	$747 – $913
2 bedrooms	$1,086	$940	+15.5%	$978 – $1,194
3 bedrooms	$1,294	$1,127	+14.8%	$1,165 – $1,423
4 bedrooms	$1,713	$1,455	+17.7%	$1,542 – $1,884

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 Lyman County that is typically $978 to $1,194 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?

$37,708median income of renter households

$651Median gross rent, all units

21%Rent-to-income ratio (median rent ÷ median renter income)

24%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $37,708 can afford about $943 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,086 is $143 (15.2%) more than that. To rent a two-bedroom at the FMR, a household needs $43,440 a year under the 30% rule, or $39,096 under the common landlord rule that income must be three times the rent.

Lyman County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$651 ±$54
Median income of renter households	$37,708 ±$11,270
Renters paying 30% or more of income (cost-burdened)	24.4% ±10.2
Renters paying 50% or more (severely cost-burdened)	17.7% ±10.4
Renter households (where the share can be computed)	271

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$568	$651	+14.6%
Median renter household income	$39,342	$37,708	−4.2%
Renters paying 30%+ of income	19.9%	24.4%	+4.5 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 Lyman County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $87,500 (FY2025: $74,300, +17.8%). 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%)	$19,850 +0.5%	$22,700 +0.7%	$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%)	$33,100 +0.6%	$37,800 +0.5%	$42,550 +0.6%	$47,250 +0.6%	$51,050 +0.6%	$54,850 +0.6%	$58,600 +0.6%	$62,400 +0.6%
Low income (80%)	$52,950 +0.7%	$60,500 +0.7%	$68,050 +0.7%	$75,600 +0.7%	$81,650 +0.6%	$87,700 +0.6%	$93,750 +0.6%	$99,800 +0.7%

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.