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There are 3,336 low-income apartments in Sioux Falls that offer reduced rents to eligible households. Low-income rents in Sioux Falls, South Dakota can range from $318 to $1,178 depending on the number of bedrooms.
Rental assistance programs support 1,350 low-income homes in Sioux Falls where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $309 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Sioux Falls, 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.
| Housing Authority | Programs |
|---|---|
| Sioux Falls Housing and Redevelopment Commission | Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Moderate Rehabilitation; Housing Opportunities for Persons with AIDS (HOPWA); Shelter Plus Care; Emergency Housing Voucher (EHV) |
Sioux Falls, South Dakota Affordable Housing Data
Income Based Apartments in Sioux Falls, South Dakota
Sioux Falls features 1,350 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 Sioux Falls, South Dakota
There are 3,336 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sioux Falls.
Housing Choice Vouchers in Sioux Falls, South Dakota
On average, Section 8 Housing Choice vouchers pay Sioux Falls landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Sioux Falls.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sioux Falls, South Dakota for a two-bedroom apartment is between $938 and $1,146.
2024 Sioux Falls, 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 | |
|---|---|---|---|---|---|
| Sioux Falls, South Dakota Fair Market Rent | $769 | $884 | $1,042 | $1,417 | $1,768 |
| Sioux Falls, South Dakota Payment Standard Range | $692 to $846 | $796 to $972 | $938 to $1,146 | $1,275 to $1,559 | $1,591 to $1,945 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Sioux Falls, SD Affordable Housing Snapshot
| Total Affordable Apartment Properties | 156 |
|---|---|
| Total Low Income Apartments | 4,727 |
| Total Housing Units with Rental Assistance | 1,350 |
| Percentage of Housing Units Occupied By Renters | 39% |
| Average Renter Household Size | 2.16 |
| Average Household Size | 2.43 |
| Median Household Income | $52,494 ±$1,380 |
| Median Rent | $726 ±$11 |
| Percentage Of Renters Overburdened | 39.25% ± 2.78pp |
| Total Population | 164,341 |
Population and Household Demographics
Sioux Falls is a city in Lincoln County, South Dakota with a population of 164,341. There are 65,538 households in the city with an average household size of 2.43 persons. 39% of households in Sioux Falls are renters.
Income and Rent Overburden in Sioux Falls
The median gross income for households in Sioux Falls is $52,494 a year, or $4,375 a month. The median rent for the city is $726 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sioux Falls, a household making less than $2,420 a month would be considered overburdened when renting an apartment at or above the median rent. 39.25% of households who rent are overburdened in Sioux Falls.
Area Median Income In Sioux Falls
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 Sioux Falls, the AMI is calculated from all households within Lincoln County.
In Sioux Falls, HUD calculates the Area Median Income for a family of four as $102,500
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 Sioux Falls
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 Sioux Falls
| 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 Sioux Falls AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$20,200 | $23,050 | $25,950 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Sioux Falls AMI may qualify for rental assistance programs that target Very Low Income households. |
$33,600 | $38,400 | $43,200 | $48,000 | $51,850 | $55,700 | $59,550 | $63,400 |
| 80% AMI Income Limits Renters earning up to 80% of the Sioux Falls AMI may qualify for rental assistance programs that target Low Income households. |
$53,800 | $61,450 | $69,150 | $76,800 | $82,950 | $89,100 | $95,250 | $101,400 |
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