How many renters live in Alcester, South Dakota?
The City of Alcester has 973 people living in 377 households.
There are 239 renters living in 98 renter households in this City. Renters make up 24.56 percent of the population living in Alcester.
What is the rental market like in Alcester, South Dakota?
There are an estimated 405 housing units in the Alcester area. Of these, 101 units are rental homes, making up 25 percent of the housing market. For every renter household in Alcester, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Alcester?
The rental vacancy rate in Alcester is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Alcester for each bedroom size?
Occupied Rental Units by Size in Alcester
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 11 | 47 | 22 | 11 |
Occupied Rental Units by Size in Alcester
A large number of apartments in Alcester have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Alcester are overburdened by housing costs?
Among renter households in this market, 10 percent have housing cost burden. Further, 5 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Alcester
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $685 to $1,345. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $685 |
| One BR | $780 |
| Two BR | $1,010 |
| Three BR | $1,228 |
| Four BR | $1,345 |
2024 Fair Market Rents in Alcester, South Dakota
How many units are rented at Fair Market Rent (FMR) in Alcester?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| One BR | 9 | 82 percent |
| Two BR | 47 | 100 percent |
Rental Units Below FMR in Alcester, South Dakota
How many affordable rental units are in Alcester?
There are a variety of federal affordable housing programs serving households in Alcester, South Dakota including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 88 |
Tracked Units by Federal Program in Alcester, South Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Alcester, South Dakota
Alcester features 22 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Alcester, South Dakota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Alcester.
Housing Choice Vouchers in Alcester, South Dakota
On average, Section 8 Housing Choice vouchers pay Alcester landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Alcester.
The maximum amount a voucher would pay on behalf of a low-income tenant in Alcester, South Dakota for a two-bedroom apartment is between $909 and $1,111.
Sourced from federal housing data and AffordableHousingOnline.com research.
