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

Discover affordable housing in Corsica where there are 1+ 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.

Meyers Apartments - Corsica

220 S Corse Ave, Corsica, South Dakota 57328

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Corsica, South Dakota
$18.92/hour
$7.72 (+69%) more than South Dakota minimum wage and $11.67 (+161%) more than the Federal minimum wage.
Learn More About Corsica, South Dakota Affordable Housing ↓

How many renters live in Corsica, South Dakota?

The City of Corsica has 691 people living in 276 households.

There are 152 renters living in 73 renter households in this City. Renters make up 22 percent of the population living in Corsica.

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

There are an estimated 326 housing units in the Corsica area. Of these, 95 units are rental homes, making up 29 percent of the housing market. For every renter household in Corsica, South Dakota, there are 1 rental units.

What is the vacancy rate for rentals in Corsica?

The rental vacancy rate in Corsica is 23 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Corsica for each bedroom size?

Occupied Rental Units by Size in Corsica
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
10 10 15 26 12
Occupied Rental Units by Size in Corsica

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

Among renter households in this market, 49 percent have housing cost burden. Further, 16 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 Corsica

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $677 to $1,605. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $677
One BR $760
Two BR $999
Three BR $1,323
Four BR $1,605
2024 Fair Market Rents in Corsica, South Dakota

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

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
Studio 8 80 percent
One BR 10 100 percent
Two BR 13 87 percent
Rental Units Below FMR in Corsica, South Dakota

How many affordable rental units are in Corsica?

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

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 8
Tracked Units by Federal Program in Corsica, South Dakota

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

Income Based Apartments in Corsica, South Dakota

Corsica features 8 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 Corsica, South Dakota

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

Housing Choice Vouchers in Corsica, South Dakota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Corsica, South Dakota for a two-bedroom apartment is between $899 and $1,099.

Sourced from federal housing data and AffordableHousingOnline.com research.