Low Income Apartments and Affordable Housing For Rent in Lead, SD

Discover affordable housing in Lead where there are 4+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Gold Mountain Apartments

611 W Main, Lead, South Dakota 57754

bed 1
payment Subsidized

Timberland Apartments

102 S Wall St, Lead, South Dakota 57754

bed 2-3
payment Subsidized

Bender Park Apartments

100 Montana Ave, Lead, South Dakota 57754

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Mile High Apts

300 Aspen Drive, Lead, South Dakota

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

How To Identify Affordable Housing in Lead, South Dakota

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lead, South Dakota
$19.55/hour
$8.35 (+75%) more than South Dakota minimum wage and $12.30 (+170%) more than the Federal minimum wage.
Learn More About Lead, South Dakota Affordable Housing ↓

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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Lead, South Dakota.

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 people living in households.

There are renters living in 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 housing units in the Lead area. Of these, units are rental homes, making up 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 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
USDA Section 515 Rural Rental Housing
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.

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