How many renters live in Faulk County, South Dakota?
The County of Faulk County has people living in households.
There are renters living in 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 housing units in the Faulk County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Faulk County, South Dakota, there are 1.29 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 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 |
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.