Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 57193 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 57193 (Sioux Falls, SD) is $1,228 a month. That is up 6.2% from $1,156 in FY 2026. Sioux Falls is in the Sioux Falls, SD HUD Metro FMR Area. The median county two-bedroom FMR in South Dakota is $1,033, so ZIP 57193 is 19% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 57193
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$865
$941
+8.8%
$847–$1,035
1BR
$986
$1,044
+5.9%
$940–$1,148
2BR
$1,156
$1,228
+6.2%
$1,105–$1,351
3BR
$1,586
$1,694
+6.8%
$1,525–$1,863
4BR
$1,939
$2,053
+5.9%
$1,848–$2,258
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 57193
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$941
$1,044
$1,228
$1,694
$2,053
FY 2026
$865
$986
$1,156
$1,586
$1,939
FY 2025
$748
$882
$1,030
$1,412
$1,730
FY 2024
$769
$884
$1,042
$1,417
$1,768
FY 2023
$710
$793
$949
$1,274
$1,616
Questions about ZIP 57193 rents
How much will Section 8 pay for a two-bedroom in ZIP 57193?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,228, that basic range is $1,105 to $1,351 a month. 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 ZIP 57193 in?
ZIP 57193 is in the Sioux Falls, SD HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 57193 for FY 2027?
The two-bedroom FMR rose 6.2%, from $1,156 in FY 2026 to $1,228 in FY 2027. Since FY 2023 it has risen 29.4%.
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 Fair Market Rents. 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