Low Income Apartments and Affordable Housing For Rent in Beresford, SD

Discover affordable housing in Beresford where there are 3+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Evergreen Square

705 W Cedar St, Beresford, South Dakota 57004

Kary House Apartments

609 W Cedar St, Beresford, South Dakota 57004

Northview Apartments I

510 N 5th St, Beresford, South Dakota 57004

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Beresford, South Dakota
$19.13/hour
$7.93 (+71%) more than South Dakota minimum wage and $11.88 (+164%) more than the Federal minimum wage.
Learn More About Beresford, South Dakota Affordable Housing ↓

How many renters live in Beresford, South Dakota?

The City of Beresford has 2,419 people living in 962 households.

There are 465 renters living in 253 renter households in this City. Renters make up 19.22 percent of the population living in Beresford.

What is the rental market like in Beresford, South Dakota?

There are an estimated 1,027 housing units in the Beresford area. Of these, 253 units are rental homes, making up 25 percent of the housing market. For every renter household in Beresford, South Dakota, there are 1 rental units.

What is the vacancy rate for rentals in Beresford?

The rental vacancy rate in Beresford is 0 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 Beresford for each bedroom size?

Occupied Rental Units by Size in Beresford
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 67 145 39 2
Occupied Rental Units by Size in Beresford

A large number of apartments in Beresford 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 Beresford are overburdened by housing costs?

Among renter households in this market, 12 percent have housing cost burden. Further, 6 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 Beresford

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $769 to $1,768. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $769
One BR $884
Two BR $1,042
Three BR $1,417
Four BR $1,768
2024 Fair Market Rents in Beresford, South Dakota

How many units are rented at Fair Market Rent (FMR) in Beresford?

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 62 93 percent
Two BR 80 55 percent
Rental Units Below FMR in Beresford, South Dakota

How many affordable rental units are in Beresford?

There are a variety of federal affordable housing programs serving households in Beresford, South Dakota including the following:

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 21
Tracked Units by Federal Program in Beresford, South Dakota

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Beresford, South Dakota

Beresford features 38 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 Beresford, South Dakota

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Beresford.

Housing Choice Vouchers in Beresford, South Dakota

On average, Section 8 Housing Choice vouchers pay Beresford landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Beresford.

The maximum amount a voucher would pay on behalf of a low-income tenant in Beresford, South Dakota for a two-bedroom apartment is between $909 and $1,111.

Sourced from federal housing data and AffordableHousingOnline.com research.