FY2019 Fair Market Rents — Shannon County, SD
The HUD-published Fair Market Rents for FY2019 in this area are:
Studio
$467
1BR
$529
2BR
$700
3BR
$943
4BR
$946
Hours/week at min wage
47 hrs
to afford the 2BR FMR @ $11.50/hr (SD)
YoY change (2BR)
+6.1%
+$40 vs FY2018
Voucher payment standard
$630–$770
PHAs set HCV payment at 90–110% of the 2BR FMR
Shannon County, SD
Non-Metropolitan area · SD · View full history · Income limits · LIHTC rents
FY2019 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $467 | $5,604 |
| 1-Bedroom | $529 | $6,348 |
| 2-Bedroom | $700 | $8,400 |
| 3-Bedroom | $943 | $11,316 |
| 4-Bedroom | $946 | $11,352 |
Recent 2-Bedroom FMR Trend
FY2017 $645 → FY2019 $700
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2019 | $467 | $529 | $700 | $943 | $946 |
| FY2018 | $441 | $496 | $660 | $889 | $899 |
| FY2017 | $433 | $485 | $645 | $886 | $889 |
View full FMR history back to FY2000 →
FY2017 Income Limits
Area Median Income (AMI): $27,300
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $13,250 | $16,240 | $20,420 | $24,600 | $28,780 | $32,960 |
| 50% AMI (Very Low) | $22,050 | $25,200 | $28,350 | $31,500 | $34,050 | $36,550 |
| 80% AMI (Low) | $35,250 | $40,300 | $45,350 | $50,350 | $54,400 | $58,450 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$8,400/yr
FMR as % of Area Median Income
30.8% of AMI
Above 30% — cost-burdened at median income
Income Needed (30% rule, 2BR)
$28,000/yr
$2,333/mo gross income
FY2017 LIHTC Maximum Rents
Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →
| AMI Band | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| 50% AMI Maximum | $238 | $273 | $307 | $368 | $395 |
| 60% AMI Maximum | $286 | $327 | $368 | $442 | $475 |
FY2017 HOME Program Rent Limits
Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $433 | $443 | $443 | $443 | $443 |
| Low HOME Rent | $551 | $630 | $708 | $787 | $851 |
Compare Shannon County, SD With Other SD Metros
vs. Custer County, SD HUD Metro FMR Area
vs. Meade County, SD HUD Metro FMR Area
vs. Rapid City, SD HUD Metro FMR Area
vs. Sioux Falls, SD MSA