FY2027 Small Area FMR · Chester, SD
ZIP 57016 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57016 (Chester, SD) is $1,410 a month, up 14.6% from FY2026. That is 15% above the Sioux Falls, SD area-wide FMR of $1,228.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 57016 sits in the Sioux Falls, SD area
Of the 53 ZIP codes HUD lists for the area, 57016 has the 6th 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 $1,410 for this ZIP code instead.
ZIP code 57016 crosses more than one HUD area. HUD also lists it under Lake County, SD (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $980 | $882 – $1,078 | $941 | $850 |
| 1 bedroom | $1,080 | $972 – $1,188 | $1,044 | $940 |
| 2 bedrooms | $1,410 | $1,269 – $1,551 | $1,228 | $1,230 |
| 3 bedrooms | $1,680 | $1,512 – $1,848 | $1,694 | $1,470 |
| 4 bedrooms | $2,360 | $2,124 – $2,596 | $2,053 | $2,060 |
A household renting a two-bedroom home at the Small Area FMR of $1,410 needs about $56,400 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 57016 lies mainly in Lake County. See the Sioux Falls, SD metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 57016?
HUD's FY2027 Small Area Fair Market Rents for 57016 are $980 (studio), $1,080 (1 BR), $1,410 (2 BR), $1,680 (3 BR) and $2,360 (4 BR) a month.
What is the Section 8 payment standard in 57016?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57016 that range is $1,269 to $1,551 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 57016?
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.