How many renters live in Lincoln County, South Dakota?
The County of Lincoln County has 70,987 people living in 27,815 households.
There are 15,649 renters living in 7,587 renter households in this County. Renters make up 22.04 percent of the population living in Lincoln County.
What is the rental market like in Lincoln County, South Dakota?
There are an estimated 26,398 housing units in the Lincoln County area. Of these, 7,181 units are rental homes, making up 27 percent of the housing market. For every renter household in Lincoln County, South Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Lincoln County?
The rental vacancy rate in Lincoln County is 2 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 Lincoln County for each bedroom size?
Occupied Rental Units by Size in Lincoln County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 101 | 1,811 | 2,569 | 1,706 | 801 |
Occupied Rental Units by Size in Lincoln County
A large number of apartments in Lincoln 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 Lincoln County are overburdened by housing costs?
Among renter households in this market, 35 percent have housing cost burden. Further, 15 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 Lincoln County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $769 to $1,768. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $769 |
| One BR | $884 |
| Two BR | $1,042 |
| Three BR | $1,417 |
| Four BR | $1,768 |
2024 Fair Market Rents in Lincoln County, South Dakota
How many units are rented at Fair Market Rent (FMR) in Lincoln 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 | 23 | 23 percent |
| One BR | 620 | 34 percent |
| Two BR | 693 | 27 percent |
Rental Units Below FMR in Lincoln County, South Dakota
How many affordable rental units are in Lincoln County?
There are a variety of federal affordable housing programs serving households in Lincoln County, South Dakota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 520 |
| Public Housing | 52 |
| Section 8 Project-Based Rental Assistance | 16 |
| USDA Section 515 Rural Rental Housing | 28 |
Tracked Units by Federal Program in Lincoln County, South Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lincoln County, South Dakota
Lincoln County features 1,510 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 Lincoln County, South Dakota
There are 3,482 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lincoln County.
Housing Choice Vouchers in Lincoln County, South Dakota
On average, Section 8 Housing Choice vouchers pay Lincoln County landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Lincoln County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lincoln County, South Dakota for a two-bedroom apartment is between $938 and $1,146.
Sourced from federal housing data and AffordableHousingOnline.com research.
