South Dakota (SD)
STATESAFMRState Median Investment Score
80Below average
| BR | Rent | 3Y CAGR |
|---|---|---|
| 0 BR | $706 - $996▲Median: $736 | 4.8% |
| 1 BR | $775 - $1,093▲Median: $846 | 5.0% |
| 2 BR | $1,014 - $1,430▲Median: $1,036 | 3.9% |
| 3 BR | $1,208 - $1,879▲Median: $1,404 | 3.5% |
| 4 BR | $1,333 - $2,390▲Median: $1,686 | 3.7% |
Market Alignment
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
Bedroom curve
Counties
Ranked by Investment Score (vs state median)
County map
South Dakota fair market rent by county, FY 2027
HUD's FY 2027 fair market rents cover 66 counties in South Dakota. The median county two-bedroom FMR is $1,033. That is up 11.2% from $929 in FY 2026. Two-bedroom FMRs run from $1,014 in Ziebach County to $1,430 in Pennington County. 5 HUD metropolitan FMR areas cover 8 of those counties; each county in the same metro area shares one FMR. No area in South Dakota is required to use Small Area FMRs.
Two-bedroom FMR by county
| County | 2BR | Change | HUD FMR area |
|---|---|---|---|
| Pennington County | $1,430 | +7.0% | Rapid City, SD HUD Metro FMR Area |
| Buffalo County | $1,409 | +17.0% | Non-metro |
| Bennett County | $1,395 | +18.0% | Non-metro |
| Meade County | $1,357 | +6.6% | Meade County, SD HUD Metro FMR Area |
| Potter County | $1,305 | +22.3% | Non-metro |
| Fall River County | $1,289 | +11.9% | Non-metro |
| Butte County | $1,278 | +16.3% | Non-metro |
| Custer County | $1,242 | +5.9% | Custer County, SD HUD Metro FMR Area |
| Codington County | $1,233 | +13.9% | Non-metro |
| Lincoln County | $1,228 | +6.2% | Sioux Falls, SD HUD Metro FMR Area |
| McCook County | $1,228 | +6.2% | Sioux Falls, SD HUD Metro FMR Area |
| Minnehaha County | $1,228 | +6.2% | Sioux Falls, SD HUD Metro FMR Area |
| Turner County | $1,228 | +6.2% | Sioux Falls, SD HUD Metro FMR Area |
| Lawrence County | $1,207 | +15.4% | Non-metro |
| Stanley County | $1,202 | +16.2% | Non-metro |
| Hughes County | $1,194 | +15.5% | Non-metro |
| Union County | $1,194 | +3.5% | Sioux City, IA-NE-SD MSA |
| Grant County | $1,179 | +26.9% | Non-metro |
| Walworth County | $1,167 | +19.1% | Non-metro |
| Lake County | $1,154 | +19.0% | Non-metro |
| Beadle County | $1,090 | +14.1% | Non-metro |
| Davison County | $1,087 | +16.1% | Non-metro |
| Edmunds County | $1,087 | +17.0% | Non-metro |
| Lyman County | $1,086 | +15.5% | Non-metro |
| Brookings County | $1,066 | +11.9% | Non-metro |
| Douglas County | $1,064 | +12.2% | Non-metro |
| Haakon County | $1,064 | +12.2% | Non-metro |
| Harding County | $1,064 | +12.2% | Non-metro |
| Jerauld County | $1,064 | +12.2% | Non-metro |
| Mellette County | $1,064 | +12.2% | Non-metro |
| Sully County | $1,064 | +12.2% | Non-metro |
| Faulk County | $1,057 | +11.3% | Non-metro |
| Kingsbury County | $1,036 | +8.9% | Non-metro |
| Brule County | $1,030 | +10.9% | Non-metro |
| Perkins County | $1,030 | +10.9% | Non-metro |
| Clay County | $1,022 | +10.0% | Non-metro |
| Yankton County | $1,016 | +9.4% | Non-metro |
| Aurora County | $1,014 | +9.1% | Non-metro |
| Bon Homme County | $1,014 | +9.1% | Non-metro |
| Brown County | $1,014 | +9.1% | Non-metro |
| Campbell County | $1,014 | +9.1% | Non-metro |
| Charles Mix County | $1,014 | +9.1% | Non-metro |
| Clark County | $1,014 | +9.1% | Non-metro |
| Corson County | $1,014 | +9.1% | Non-metro |
| Day County | $1,014 | +9.1% | Non-metro |
| Deuel County | $1,014 | +9.1% | Non-metro |
| Dewey County | $1,014 | +9.1% | Non-metro |
| Gregory County | $1,014 | +9.1% | Non-metro |
| Hamlin County | $1,014 | +9.1% | Non-metro |
| Hand County | $1,014 | +9.1% | Non-metro |
| Hanson County | $1,014 | +9.1% | Non-metro |
| Hutchinson County | $1,014 | +9.1% | Non-metro |
| Hyde County | $1,014 | +7.0% | Non-metro |
| Jackson County | $1,014 | +9.1% | Non-metro |
| Jones County | $1,014 | +9.1% | Non-metro |
| Marshall County | $1,014 | +9.1% | Non-metro |
| McPherson County | $1,014 | +9.1% | Non-metro |
| Miner County | $1,014 | +9.1% | Non-metro |
| Moody County | $1,014 | +9.1% | Non-metro |
| Oglala Lakota County | $1,014 | +9.1% | Non-metro |
| Roberts County | $1,014 | +9.1% | Non-metro |
| Sanborn County | $1,014 | +9.1% | Non-metro |
| Spink County | $1,014 | +9.1% | Non-metro |
| Todd County | $1,014 | +9.1% | Non-metro |
| Tripp County | $1,014 | +9.1% | Non-metro |
| Ziebach County | $1,014 | +9.1% | Non-metro |
HUD metro FMR areas
| Metro area | Counties | 2BR |
|---|---|---|
| Rapid City, SD HUD Metro FMR Area | 1 | $1,430 |
| Meade County, SD HUD Metro FMR Area | 1 | $1,357 |
| Custer County, SD HUD Metro FMR Area | 1 | $1,242 |
| Sioux Falls, SD HUD Metro FMR Area | 4 | $1,228 |
| Sioux City, IA-NE-SD MSA | 1 | $1,194 |
Questions about South Dakota rents
What is the fair market rent in South Dakota?
HUD sets fair market rents by metro area and county, not statewide. For FY 2027 the median county two-bedroom FMR in South Dakota is $1,033. Look up the county or ZIP code to see the value that applies to a specific property.
Which South Dakota counties have the highest fair market rent?
For FY 2027, the highest two-bedroom FMRs are in Pennington County ($1,430), Buffalo County ($1,409), Bennett County ($1,395).
Does South Dakota use Small Area Fair Market Rents?
No area in South Dakota is required to use them. Housing authorities use the metro or county FMR unless they choose to adopt Small Area FMRs.
Source: HUD FY 2027 Fair Market Rents. Change compares each county's two-bedroom FMR with FY 2026.
Data source: U.S. Department of Housing and Urban Development (HUD)
Fiscal Year 2027