What HUD offices serve Lead, 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 Lead.
How many renters live in Lead, South Dakota?
The City of Lead has 2,993 people living in 1,451 households.
There are 751 renters living in 402 renter households in this City. Renters make up 25.09 percent of the population living in Lead.
What is the rental market like in Lead, South Dakota?
There are an estimated 1,832 housing units in the Lead area. Of these, 402 units are rental homes, making up 22 percent of the housing market. For every renter household in Lead, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Lead?
The rental vacancy rate in Lead 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 Lead for each bedroom size?
Occupied Rental Units by Size in Lead
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 96 | 222 | 84 | 0 |
Occupied Rental Units by Size in Lead
A large number of apartments in Lead 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 Lead are overburdened by housing costs?
Among renter households in this market, 30 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 Lead
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $699 to $1,751. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $699 |
| One BR | $785 |
| Two BR | $1,032 |
| Three BR | $1,454 |
| Four BR | $1,751 |
2024 Fair Market Rents in Lead, South Dakota
How many units are rented at Fair Market Rent (FMR) in Lead?
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 | 96 | 100 percent |
| Two BR | 206 | 93 percent |
Rental Units Below FMR in Lead, South Dakota
How many affordable rental units are in Lead?
There are a variety of federal affordable housing programs serving households in Lead, South Dakota including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 44 |
| USDA Section 515 Rural Rental Housing | 26 |
Tracked Units by Federal Program in Lead, South Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lead, South Dakota
Lead features 56 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 Lead, South Dakota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lead.
Housing Choice Vouchers in Lead, South Dakota
On average, Section 8 Housing Choice vouchers pay Lead landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Lead.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lead, South Dakota for a two-bedroom apartment is between $929 and $1,135.
Sourced from federal housing data and AffordableHousingOnline.com research.
