How many renters live in Codington County, South Dakota?
The County of Codington County has 28,402 people living in 12,165 households.
There are 7,847 renters living in 3,997 renter households in this County. Renters make up 27.63 percent of the population living in Codington County.
What is the rental market like in Codington County, South Dakota?
There are an estimated 13,257 housing units in the Codington County area. Of these, 4,314 units are rental homes, making up 33 percent of the housing market. For every renter household in Codington County, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Codington County?
The rental vacancy rate in Codington County is 7 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 Codington County for each bedroom size?
Occupied Rental Units by Size in Codington County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 238 | 993 | 1,908 | 729 | 111 |
Occupied Rental Units by Size in Codington County
A large number of apartments in Codington 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 Codington County are overburdened by housing costs?
Among renter households in this market, 38 percent have housing cost burden. Further, 22 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 Codington County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $714 to $1,776. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $714 |
| One BR | $801 |
| Two BR | $1,053 |
| Three BR | $1,378 |
| Four BR | $1,776 |
2024 Fair Market Rents in Codington County, South Dakota
How many units are rented at Fair Market Rent (FMR) in Codington 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 | 136 | 57 percent |
| One BR | 684 | 69 percent |
| Two BR | 1,138 | 60 percent |
Rental Units Below FMR in Codington County, South Dakota
How many affordable rental units are in Codington County?
There are a variety of federal affordable housing programs serving households in Codington County, South Dakota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 302 |
| Public Housing | 85 |
| Section 8 Project-Based Rental Assistance | 196 |
| Section 811 Supportive Housing for Persons with Disabilities | 18 |
| USDA Section 515 Rural Rental Housing | 185 |
Tracked Units by Federal Program in Codington County, South Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Codington County, South Dakota
Codington County features 489 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 Codington County, South Dakota
There are 238 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Codington County.
Housing Choice Vouchers in Codington County, South Dakota
On average, Section 8 Housing Choice vouchers pay Codington County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Codington County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Codington County, South Dakota for a two-bedroom apartment is between $948 and $1,158.
Sourced from federal housing data and AffordableHousingOnline.com research.
