How many renters live in Tripp County, South Dakota?
The County of Tripp County has 5,607 people living in 2,179 households.
There are 1,626 renters living in 634 renter households in this County. Renters make up 29 percent of the population living in Tripp County.
What is the rental market like in Tripp County, South Dakota?
There are an estimated 2,794 housing units in the Tripp County area. Of these, 693 units are rental homes, making up 25 percent of the housing market. For every renter household in Tripp County, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Tripp County?
The rental vacancy rate in Tripp County is 9 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 Tripp County for each bedroom size?
Occupied Rental Units by Size in Tripp County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 7 | 128 | 181 | 195 | 92 |
Occupied Rental Units by Size in Tripp County
A large number of apartments in Tripp 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 Tripp County are overburdened by housing costs?
Among renter households in this market, 45 percent have housing cost burden. Further, 23 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 Tripp County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,454. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $613 |
| One BR | $733 |
| Two BR | $905 |
| Three BR | $1,227 |
| Four BR | $1,454 |
2024 Fair Market Rents in Tripp County, South Dakota
How many units are rented at Fair Market Rent (FMR) in Tripp 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 |
| Studio | 0 | 100 percent |
| One BR | 77 | 60 percent |
| Two BR | 102 | 56 percent |
Rental Units Below FMR in Tripp County, South Dakota
How many affordable rental units are in Tripp County?
There are a variety of federal affordable housing programs serving households in Tripp County, South Dakota including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 48 |
| USDA Section 515 Rural Rental Housing | 52 |
Tracked Units by Federal Program in Tripp County, South Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Tripp County, South Dakota
Tripp County features 77 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 Tripp County, South Dakota
There are 44 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Tripp County.
Housing Choice Vouchers in Tripp County, South Dakota
On average, Section 8 Housing Choice vouchers pay Tripp County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Tripp County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Tripp County, South Dakota for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.