Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 57457 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 57457 (Long Lake, SD) is $1,170 a month. That is up 7.3% from $1,090 in FY 2026. Long Lake is in the McPherson County, SD non-metropolitan 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 county-wide two-bedroom FMR of $1,014. Among 7 ZIP codes in McPherson County, 57457 is tied for the 2nd-highest two-bedroom rent (county range $1,010–$1,400). The median county two-bedroom FMR in South Dakota is $1,033, so ZIP 57457 is 13% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 57457
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$830
$870
+4.8%
$783–$957
1BR
$890
$930
+4.5%
$837–$1,023
2BR
$1,090
$1,170
+7.3%
$1,053–$1,287
3BR
$1,430
$1,550
+8.4%
$1,395–$1,705
4BR
$1,740
$1,890
+8.6%
$1,701–$2,079
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 57457
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$870
$930
$1,170
$1,550
$1,890
FY 2026
$830
$890
$1,090
$1,430
$1,740
FY 2025
$770
$830
$1,010
$1,360
$1,630
FY 2024area FMR
$613
$689
$905
$1,275
$1,454
FY 2023area FMR
$575
$628
$826
$1,174
$1,347
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby McPherson County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 57457?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,170 it would be $1,053 to $1,287. 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 57457 in?
ZIP 57457 is in the McPherson County, SD non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.
How much did fair market rent change in ZIP 57457 for FY 2027?
The two-bedroom FMR rose 7.3%, from $1,090 in FY 2026 to $1,170 in FY 2027. Since FY 2025 it has risen 15.8%.
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