How many renters live in Walworth County, South Dakota?
The County of Walworth County has 5,317 people living in 2,380 households.
There are 1,231 renters living in 634 renter households in this County. Renters make up 23.15 percent of the population living in Walworth County.
What is the rental market like in Walworth County, South Dakota?
There are an estimated 2,939 housing units in the Walworth County area. Of these, 691 units are rental homes, making up 24 percent of the housing market. For every renter household in Walworth County, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Walworth County?
The rental vacancy rate in Walworth County is 8 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 Walworth County for each bedroom size?
Occupied Rental Units by Size in Walworth County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 12 | 144 | 284 | 100 | 90 |
Occupied Rental Units by Size in Walworth County
A large number of apartments in Walworth 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 Walworth County are overburdened by housing costs?
Among renter households in this market, 34 percent have housing cost burden. Further, 10 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 Walworth County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $626 to $1,391. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $626 |
| One BR | $703 |
| Two BR | $924 |
| Three BR | $1,117 |
| Four BR | $1,391 |
2024 Fair Market Rents in Walworth County, South Dakota
How many units are rented at Fair Market Rent (FMR) in Walworth 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 | 59 | 41 percent |
| Two BR | 175 | 62 percent |
Rental Units Below FMR in Walworth County, South Dakota
How many affordable rental units are in Walworth County?
There are a variety of federal affordable housing programs serving households in Walworth County, South Dakota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 32 |
| Section 8 Project-Based Rental Assistance | 68 |
| Mod Rehab Project-Based Rental Assistance | 42 |
| USDA Section 515 Rural Rental Housing | 32 |
Tracked Units by Federal Program in Walworth County, South Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Walworth County, South Dakota
Walworth County features 116 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 Walworth County, South Dakota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Walworth County.
Housing Choice Vouchers in Walworth County, South Dakota
On average, Section 8 Housing Choice vouchers pay Walworth County landlords $500 per month towards rent. The average voucher holder contributes $200 towards rent in Walworth County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Walworth County, South Dakota for a two-bedroom apartment is between $832 and $1,016.
Sourced from federal housing data and AffordableHousingOnline.com research.
