Pennington 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).

$1,4302-bedroom FMR, FY2027

$1,0931-bedroom FMR, FY2027

$81,05080% income limit, family of 4 (FY2026)

$101,300Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Pennington County is $1,430 a month, up 7.0% from $1,336 in FY2026. Pennington County belongs to the Rapid City, 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 Pennington County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$996	$921	+8.1%	$897 – $1,095
1 bedroom	$1,093	$1,018	+7.4%	$984 – $1,202
2 bedrooms	$1,430	$1,336	+7.0%	$1,287 – $1,573
3 bedrooms	$1,833	$1,743	+5.2%	$1,650 – $2,016
4 bedrooms	$2,390	$2,178	+9.7%	$2,151 – $2,629

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 Pennington County that is typically $1,287 to $1,573 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?

$47,358median income of renter households

$1,120Median gross rent, all units

28%Rent-to-income ratio (median rent ÷ median renter income)

49%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $47,358 can afford about $1,184 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,430 is $246 (20.8%) more than that. To rent a two-bedroom at the FMR, a household needs $57,200 a year under the 30% rule, or $51,480 under the common landlord rule that income must be three times the rent.

Pennington County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,120 ±$40
Median income of renter households	$47,358 ±$3,105
Renters paying 30% or more of income (cost-burdened)	48.7% ±4.3
Renters paying 50% or more (severely cost-burdened)	19.3% ±2.6
Renter households (where the share can be computed)	13,307

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$842	$1,120	+33.0%
Median renter household income	$30,673	$47,358	+54.4%
Renters paying 30%+ of income	46.5%	48.7%	+2.2 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 $1,210 to $1,820 depending on the ZIP code.

All 22 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
57553	$830	$920	$1,210	$1,570	$1,970
57701	$910	$1,000	$1,310	$1,680	$2,190
57702	$1,060	$1,170	$1,530	$1,960	$2,550
57703	$1,220	$1,340	$1,750	$2,240	$2,930
57706	$1,270	$1,390	$1,820	$2,470	$3,040
57709	$1,000	$1,090	$1,430	$1,830	$2,390
57718	$870	$960	$1,250	$1,730	$2,100
57719	$1,080	$1,180	$1,550	$2,030	$2,590
57725	$990	$1,090	$1,420	$1,850	$2,370
57730	$860	$950	$1,240	$1,710	$2,070
57732	$830	$920	$1,210	$1,570	$1,970
57744	$990	$1,090	$1,420	$1,940	$2,370
57745	$1,000	$1,100	$1,440	$1,850	$2,410
57750	$830	$920	$1,210	$1,570	$1,970
57751	$980	$1,080	$1,410	$1,870	$2,350
57754	$830	$920	$1,210	$1,570	$1,970
57761	$830	$920	$1,210	$1,600	$1,970
57767	$830	$920	$1,210	$1,600	$1,970
57775	$830	$920	$1,210	$1,570	$1,970
57780	$1,000	$1,090	$1,430	$1,830	$2,390
57790	$1,000	$1,090	$1,430	$1,830	$2,390
57791	$980	$1,070	$1,400	$1,850	$2,340

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

HUD income limits for Pennington County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $101,300 (FY2025: $100,600, +0.7%). 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%)	$21,300 +3.1%	$24,350 +3.2%	$27,400 +2.8%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$35,500 +3.3%	$40,550 +3.3%	$45,600 +3.3%	$50,650 +3.3%	$54,750 +3.3%	$58,800 +3.3%	$62,850 +3.3%	$66,900 +3.3%
Low income (80%)	$56,750 +3.3%	$64,850 +3.3%	$72,950 +3.3%	$81,050 +3.2%	$87,550 +3.2%	$94,050 +3.2%	$100,550 +3.3%	$107,000 +3.2%

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.