Affordable Housing In Yankton
Yankton County, South Dakota

33 Low Income Apartment Communities In Yankton

Yankton Heights Apartments

1200 W 30th St
Yankton, SD
$325-772
1-3 BR
HCV Welcome

Whiting Court Apartments

1006 Whiting Dr
Yankton, SD
$25-887
1-2 BR
HCV Welcome

East Meadows

1000 Memory Ln
Yankton, SD
Subsidized

Evergreen Lodge

1006 Whiting Dr
Yankton, SD
Subsidized

The Sir Charles

120 E 3rd St
Yankton, SD
Subsidized

Valley Park

2200 Green St
Yankton, SD
Subsidized

Marne Creek

610 W 21st St
Yankton, SD
Subsidized

Walnut Hill Apartments

1021 Walnut St
Yankton, SD
Subsidized

Canyon Ridge Apartments

1700 Locust St
Yankton, SD
Subsidized

Colonial Square Apartments

802 E 13th St
Yankton, SD
Subsidized

Housing Authorities that serve Yankton

Housing Authority Programs
Yankton Housing and Redevelopment Commission Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Yankton, South Dakota

According to federal housing data and AffordableHousingOnline.com research, there are 33 low income housing apartment communities offering 955 affordable apartments for rent in Yankton, South Dakota. Yankton features 494 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 461 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Yankton.

Yankton, SD Affordable Housing Snapshot

Total Affordable Apartment Properties 33
Total Low Income Apartments 955
Total Housing Units with Rental Assistance 494
Percentage of Housing Units Occupied By Renters 40.92%
Average Renter Household Size 1.92
Average Household Size 2.20
Median Household Income $40,180 ±$4,699
Median Rent $561 ±$39
Percentage Of Renters Overburdened 37.89% ± 9.26pp
Total Population 14,531

Population and Household Demographics

Yankton is a City in Yankton County, South Dakota with a population of 14,531. There are 5,922 households in the city with an average household size of 2.20 persons. 40.92% of households in Yankton are renters.

Income and Rent Overburden in Yankton

The median gross income for households in Yankton is $40,180 a year, or $3,348 a month. The median rent for the city is $561 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Yankton, a household making less than $1,870 a month would be considered overburdened when renting an apartment at or above the median rent. 37.89% of households who rent are overburdened in Yankton.1

Area Median Income In Yankton

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Yankton, the AMI is calculated from all households within Yankton County.

In Yankton, HUD calculates the Area Median Income for a family of four as $69,400

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Yankton

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Yankton HUD Rental Assistance in Yankton

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,850 $17,000 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,750 $28,250 $31,800 $35,300 $38,150 $40,950 $43,800 $46,600
80% of Median $39,550 $45,200 $50,850 $56,500 $61,050 $65,550 $70,100 $74,600
Low Income Housing Tax Credits in Yankton

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1988 to 2011, 9 low income apartment communities containing 311 rental apartments have been constructed and made affordable to low income persons in Yankton by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Yankton

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,750 $28,250 $31,800 $35,300 $38,150 $40,950 $43,800 $46,600
60% of Median $29,700 $33,900 $38,160 $42,360 $45,780 $49,140 $52,560 $55,920

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Yankton is $38,160 a year, or $3,180 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,180 by 30% to get a maximum rent of $954 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $619 $663 $795 $918 $1,024 $1,130
60% $743 $795 $954 $1,102 $1,229 $1,356
Fair Market Rents in Yankton

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$513 $570 $751 $1,004 $1,093