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There are 16 low-income apartments in Faulk County that offer reduced rents to eligible households.
Rental assistance programs support 22 low-income homes in Faulk County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-4 towards rent each month.
Affordable rent data for some communities last confirmed on July 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Faulk County, South Dakota Affordable Housing Data
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.
2024 Faulk County, South Dakota Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Faulk County, South Dakota Fair Market Rent | $627 | $704 | $925 | $1,225 | $1,486 |
| Faulk County, South Dakota Payment Standard Range | $564 to $690 | $634 to $774 | $833 to $1,018 | $1,103 to $1,348 | $1,337 to $1,635 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Faulk County, SD Affordable Housing Snapshot
| Total Affordable Apartment Properties | 4 |
|---|---|
| Total Low Income Apartments | 40 |
| Total Housing Units with Rental Assistance | 22 |
| Percentage of Housing Units Occupied By Renters | 23.03% |
| Average Renter Household Size | 2.35 |
| Average Household Size | 2.16 |
| Median Household Income | $43,679 ±$4,030 |
| Median Rent | $535 ±$103 |
| Percentage Of Renters Overburdened | 15.07% ± 6.04pp |
| Total Population | 2,359 |
Population and Household Demographics
Faulk County is a county in South Dakota with a population of 2,359. There are 951 households in the county with an average household size of 2.16 persons. 23.03% of households in Faulk County are renters.
Income and Rent Overburden in Faulk County
The median gross income for households in Faulk County is $43,679 a year, or $3,640 a month. The median rent for the county is $535 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Faulk County, a household making less than $1,783 a month would be considered overburdened when renting an apartment at or above the median rent. 15.07% of households who rent are overburdened in Faulk County.
Area Median Income In Faulk County
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.
In Faulk County, HUD calculates the Area Median Income for a family of four as $89,100
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 Faulk County
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 HUD Rental Assistance in Faulk County
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Faulk County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$18,750 | $21,400 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Faulk County AMI may qualify for rental assistance programs that target Very Low Income households. |
$31,200 | $35,650 | $40,100 | $44,550 | $48,150 | $51,700 | $55,250 | $58,850 |
| 80% AMI Income Limits Renters earning up to 80% of the Faulk County AMI may qualify for rental assistance programs that target Low Income households. |
$49,950 | $57,050 | $64,200 | $71,300 | $77,050 | $82,750 | $88,450 | $94,150 |
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