FY2027 Small Area FMR · Chancellor, SD

ZIP 57015 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57015 (Chancellor, SD) is $1,050 a month, up 12.9% from FY2026. That is 14% below the Sioux Falls, SD area-wide FMR of $1,228.

2-bedroom SAFMR$1,050per month ▲ 12.9%

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

Rank in the area36thof 53 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$945

2 BR Small Area FMR$1,050

110% of SAFMR$1,155

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

Studio$800▲ 15.9%

1 BR$890▲ 11.2%

2 BR$1,050▲ 12.9%

3 BR$1,450▲ 13.3%

4 BR$1,760▲ 12.8%

FY2027 FY2026

Where 57015 sits in the Sioux Falls, SD area

Of the 53 ZIP codes HUD lists for the area, 57015 has the 36th 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 $1,050 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	$800	$720 – $880	$941	$690
1 bedroom	$890	$801 – $979	$1,044	$800
2 bedrooms	$1,050	$945 – $1,155	$1,228	$930
3 bedrooms	$1,450	$1,305 – $1,595	$1,694	$1,280
4 bedrooms	$1,760	$1,584 – $1,936	$2,053	$1,560

A household renting a two-bedroom home at the Small Area FMR of $1,050 needs about $42,000 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 57015 lies mainly in Turner County and 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
57064	Tea	5.9 mi	$1,530
57039	Lennox	7.7 mi	$1,110
57053	Parker	8.1 mi	$1,260
57106	Sioux Falls	9.7 mi	$1,300
57021	Davis	10.6 mi	$1,110
57036	Hurley	12.6 mi	$1,260

Questions

What is the Fair Market Rent for ZIP code 57015?

HUD's FY2027 Small Area Fair Market Rents for 57015 are $800 (studio), $890 (1 BR), $1,050 (2 BR), $1,450 (3 BR) and $1,760 (4 BR) a month.

What is the Section 8 payment standard in 57015?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57015 that range is $945 to $1,155 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 57015?

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.