FY2026 Fair Market Rents — Pennington County
Studio
$921
1BR
$1,018
2BR
$1,336
3BR
$1,743
4BR
$2,178
Pennington County, South Dakota
FIPS 46103 · County-level FMR and income limit data
FMR Area: Rapid City, SD HUD Metro FMR Area
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $921 | $11,052 |
| 1-Bedroom | $1,018 | $12,216 |
| 2-Bedroom | $1,336 | $16,032 |
| 3-Bedroom | $1,743 | $20,916 |
| 4-Bedroom | $2,178 | $26,136 |
To afford the FY2026 2-bedroom FMR of $1,336/mo under the 30%-of-income rule, a household needs about
$53,440/yr ($4,453/mo). Area Median Income is $101,300.
At SD's state minimum wage of $11.50/hr, a worker would need to work 90 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $921 | $1,018 | $1,336 | $1,743 | $2,178 |
| FY2025 | $767 | $856 | $1,119 | $1,490 | $1,777 |
| FY2024 | $788 | $886 | $1,163 | $1,592 | $1,781 |
| FY2023 | $665 | $756 | $995 | $1,374 | $1,509 |
| FY2022 | $608 | $695 | $915 | $1,294 | $1,457 |
| FY2021 | $577 | $664 | $875 | $1,237 | $1,437 |
| FY2020 | $549 | $639 | $841 | $1,184 | $1,423 |
FY2026 Income Limits
Area Median Income: $101,300
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $21,300 | $24,350 | $27,400 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $35,500 | $40,550 | $45,600 | $50,650 | $54,750 | $58,800 |
| 80% AMI | $56,750 | $64,850 | $72,950 | $81,050 | $87,550 | $94,050 |