FY2027 Small Area FMR · Baltic, SD

ZIP 57003 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57003 (Baltic, SD) is $1,470 a month, up 22.5% from FY2026. That is 20% above the Sioux Falls, SD area-wide FMR of $1,228.

2-bedroom SAFMR$1,470per month ▲ 22.5%

Area-wide 2 BR FMR$1,228Sioux Falls, SD

Rank in the area5thof 53 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,323

2 BR Small Area FMR$1,470

110% of SAFMR$1,617

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,130▲ 25.6%

1 BR$1,250▲ 22.5%

2 BR$1,470▲ 22.5%

3 BR$2,030▲ 23.0%

4 BR$2,460▲ 22.4%

FY2027 FY2026

Where 57003 sits in the Sioux Falls, SD area

Of the 53 ZIP codes HUD lists for the area, 57003 has the 5th highest two-bedroom Small Area FMR. Sioux Falls, SD is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,228 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,470 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,130	$1,017 – $1,243	$941	$900
1 bedroom	$1,250	$1,125 – $1,375	$1,044	$1,020
2 bedrooms	$1,470	$1,323 – $1,617	$1,228	$1,200
3 bedrooms	$2,030	$1,827 – $2,233	$1,694	$1,650
4 bedrooms	$2,460	$2,214 – $2,706	$2,053	$2,010

A household renting a two-bedroom home at the Small Area FMR of $1,470 needs about $58,800 a year to keep housing costs at 30% of income. The area median family income is $118,700 and the 80% low-income limit for four people is $94,950. ZIP code 57003 lies mainly in Minnehaha County. See the Sioux Falls, SD metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
57055	Renner	5.5 mi	$1,290
57020	Crooks	5.5 mi	$1,400
57041	Lyons	5.7 mi	$1,160
57022	Dell Rapids	6.9 mi	$1,150
57104	Sioux Falls	10.0 mi	$1,120
57107	Sioux Falls	10.9 mi	$1,320

Questions

What is the Fair Market Rent for ZIP code 57003?

HUD's FY2027 Small Area Fair Market Rents for 57003 are $1,130 (studio), $1,250 (1 BR), $1,470 (2 BR), $2,030 (3 BR) and $2,460 (4 BR) a month.

What is the Section 8 payment standard in 57003?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57003 that range is $1,323 to $1,617 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 57003?

The FY2026 income limits of the Sioux Falls, SD area apply: median family income $118,700, low-income (80%) limit $94,950 for a family of four.