Low Income Apartments and Affordable Housing For Rent in Faulk County, SD

Discover affordable housing in Faulk County where there are 2+ 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.

East View Apartments

605 Court St, Faulkton, South Dakota 57438

Parkview Apartments

110 10th Ave N, Faulkton, South Dakota 57438

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Faulk County, South Dakota
$17.52/hour
$6.32 (+56%) more than South Dakota minimum wage and $10.27 (+142%) more than the Federal minimum wage.
Learn More About Faulk County, South Dakota Affordable Housing ↓

How many renters live in Faulk County, South Dakota?

The County of Faulk County has 2,140 people living in 765 households.

There are 288 renters living in 128 renter households in this County. Renters make up 13.46 percent of the population living in Faulk County.

What is the rental market like in Faulk County, South Dakota?

There are an estimated 1,046 housing units in the Faulk County area. Of these, 165 units are rental homes, making up 16 percent of the housing market. For every renter household in Faulk County, South Dakota, there are 1 rental units.

What is the vacancy rate for rentals in Faulk County?

The rental vacancy rate in Faulk County is 22 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 Faulk County for each bedroom size?

Occupied Rental Units by Size in Faulk County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 54 30 18 17
Occupied Rental Units by Size in Faulk County

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

Among renter households in this market, 8 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 Faulk County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $627 to $1,486. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $627
One BR $704
Two BR $925
Three BR $1,225
Four BR $1,486
2024 Fair Market Rents in Faulk County, South Dakota

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

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 10 19 percent
Two BR 12 40 percent
Rental Units Below FMR in Faulk County, South Dakota

How many affordable rental units are in Faulk County?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 12
Tracked Units by Federal Program in Faulk County, South Dakota

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

Income Based Apartments in Faulk County, South Dakota

Faulk County 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 Faulk County, South Dakota

There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Faulk County.

Housing Choice Vouchers in Faulk County, South Dakota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Faulk County, South Dakota for a two-bedroom apartment is between $833 and $1,018.

Sourced from federal housing data and AffordableHousingOnline.com research.