How many renters live in Colman, South Dakota?
The City of Colman has 838 people living in 282 households.
There are 168 renters living in 76 renter households in this City. Renters make up 20.05 percent of the population living in Colman.
What is the rental market like in Colman, South Dakota?
There are an estimated 320 housing units in the Colman area. Of these, 82 units are rental homes, making up 26 percent of the housing market. For every renter household in Colman, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Colman?
The rental vacancy rate in Colman 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 Colman for each bedroom size?
Occupied Rental Units by Size in Colman
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 4 | 58 | 5 | 9 |
Occupied Rental Units by Size in Colman
A large number of apartments in Colman 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 Colman are overburdened by housing costs?
Among renter households in this market, 28 percent have housing cost burden. Further, 20 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 Colman
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,536. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $613 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,256 |
| Four BR | $1,536 |
2024 Fair Market Rents in Colman, South Dakota
How many units are rented at Fair Market Rent (FMR) in Colman?
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 | 3 | 75 percent |
| Two BR | 48 | 83 percent |
Rental Units Below FMR in Colman, South Dakota
How many affordable rental units are in Colman?
Income Based Apartments in Colman, South Dakota
Colman features 0 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 Colman, South Dakota
There are 28 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Colman.
Housing Choice Vouchers in Colman, South Dakota
On average, Section 8 Housing Choice vouchers pay Colman landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Colman.
The maximum amount a voucher would pay on behalf of a low-income tenant in Colman, South Dakota for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
