What HUD offices serve Faith, South Dakota?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the South Dakota Public Housing and Low-Income Apartments Waiting Lists page for openings near Faith.
How many renters live in Faith, South Dakota?
The City of Faith has 304 people living in 140 households.
There are 70 renters living in 33 renter households in this City. Renters make up 23.03 percent of the population living in Faith.
What is the rental market like in Faith, South Dakota?
There are an estimated 181 housing units in the Faith area. Of these, 47 units are rental homes, making up 26 percent of the housing market. For every renter household in Faith, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Faith?
The rental vacancy rate in Faith is 30 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 Faith for each bedroom size?
Occupied Rental Units by Size in Faith
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 11 | 7 | 5 | 10 |
Occupied Rental Units by Size in Faith
A large number of apartments in Faith 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 Faith are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 18 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 Faith
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $784 to $1,962. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $784 |
| One BR | $880 |
| Two BR | $1,156 |
| Three BR | $1,546 |
| Four BR | $1,962 |
2024 Fair Market Rents in Faith, South Dakota
How many units are rented at Fair Market Rent (FMR) in Faith?
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 | 11 | 100 percent |
| Two BR | 7 | 100 percent |
Rental Units Below FMR in Faith, South Dakota
How many affordable rental units are in Faith?
There are a variety of federal affordable housing programs serving households in Faith, South Dakota including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 17 |
| USDA Section 515 Rural Rental Housing | 18 |
Tracked Units by Federal Program in Faith, South Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Faith, South Dakota
Faith features 18 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 Faith, South Dakota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Faith.
Housing Choice Vouchers in Faith, South Dakota
On average, Section 8 Housing Choice vouchers pay Faith landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Faith.
The maximum amount a voucher would pay on behalf of a low-income tenant in Faith, South Dakota for a two-bedroom apartment is between $1,040 and $1,272.
Sourced from federal housing data and AffordableHousingOnline.com research.
