FMR is near market; voucher and private rents are aligned.
0.93
1 BR
1 BR
1.07ratio
FMR$950
Market$890
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR
1.08ratio
FMR$1,240
Market$1,150
vs market+$90
FMR is near market; voucher and private rents are aligned.
1.08
3 BR
3 BR
1.22ratio
FMR$1,720
Market$1,410
vs market+$310
FMR is above market; underwrite to market rent.
1.22
4 BR
4 BR
1.59ratio
FMR$2,070
Market$1,300
vs market+$770
FMR is above market; underwrite to market rent.
1.59
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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ZIP 57799 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 57799 (Spearfish, SD) is $1,240 a month. That is up 14.8% from $1,080 in FY 2026. Spearfish is in the Lawrence 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 $1,207. Among 9 ZIP codes in Lawrence County, 57799 is tied for the 2nd-highest two-bedroom rent (county range $1,140–$1,280). The median county two-bedroom FMR in South Dakota is $1,033, so ZIP 57799 is 20% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 57799
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$740
$860
+16.2%
$774–$946
1BR
$820
$950
+15.9%
$855–$1,045
2BR
$1,080
$1,240
+14.8%
$1,116–$1,364
3BR
$1,500
$1,720
+14.7%
$1,548–$1,892
4BR
$1,810
$2,070
+14.4%
$1,863–$2,277
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 57799
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$860
$950
$1,240
$1,720
$2,070
FY 2026
$740
$820
$1,080
$1,500
$1,810
FY 2025
$690
$760
$1,000
$1,400
$1,680
FY 2024area FMR
$699
$785
$1,032
$1,454
$1,751
FY 2023area FMR
$584
$664
$874
$1,242
$1,489
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Lawrence County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 57799?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,207, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,086 to $1,328 a month; under the ZIP-level Small Area FMR of $1,240 it would be $1,116 to $1,364. 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 57799 in?
ZIP 57799 is in the Lawrence County, SD non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,207.
How much did fair market rent change in ZIP 57799 for FY 2027?
The two-bedroom FMR rose 14.8%, from $1,080 in FY 2026 to $1,240 in FY 2027. Since FY 2025 it has risen 24.0%.
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