FMR is near market; voucher and private rents are aligned.
1.09
1 BR
1 BR- 57064
1.20ratio
FMR$1,300
Market$1,080
vs market+$220
FMR is above market; underwrite to market rent.
1.20
2 BR
2 BR- 57064
1.13ratio
FMR$1,530
Market$1,360
vs market+$170
FMR is above market; underwrite to market rent.
1.13
3 BR
3 BR- 57064
1.13ratio
FMR$2,110
Market$1,860
vs market+$250
FMR is above market; underwrite to market rent.
1.13
4 BR
4 BR- 57064
1.14ratio
FMR$2,560
Market$2,240
vs market+$320
FMR is above market; underwrite to market rent.
1.14
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Tea, SD fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Tea, SD is $1,530 a month. That is up 14.2% from $1,340 in FY 2026. Tea is in the Sioux Falls, SD HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,228. The median county two-bedroom FMR in South Dakota is $1,033, so Tea is 48% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Tea, SD
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,000
$1,170
+17.0%
$1,053–$1,287
1BR
$1,140
$1,300
+14.0%
$1,170–$1,430
2BR
$1,340
$1,530
+14.2%
$1,377–$1,683
3BR
$1,840
$2,110
+14.7%
$1,899–$2,321
4BR
$2,250
$2,560
+13.8%
$2,304–$2,816
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Tea, SD
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,170
$1,300
$1,530
$2,110
$2,560
FY 2026
$1,000
$1,140
$1,340
$1,840
$2,250
FY 2025
$860
$1,010
$1,180
$1,620
$1,980
FY 2024
$870
$1,000
$1,180
$1,610
$2,000
FY 2023
$820
$910
$1,090
$1,460
$1,860
Questions about Tea, SD rents
How much will Section 8 pay for a two-bedroom in Tea, SD?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,228, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,105 to $1,351 a month; under the ZIP-level Small Area FMR of $1,530 it would be $1,377 to $1,683. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Tea, SD in?
Tea, SD is in the Sioux Falls, SD HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,228.
How much did fair market rent change in Tea, SD for FY 2027?
The two-bedroom FMR rose 14.2%, from $1,340 in FY 2026 to $1,530 in FY 2027. Since FY 2023 it has risen 40.4%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set