FY2027 Small Area FMR · Springfield, SD

ZIP 57062 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57062 (Springfield, SD) is $1,120 a month, up 17.9% from FY2026. That is 10% above the Bon Homme County, SD area-wide FMR of $1,014.

2-bedroom SAFMR$1,120per month ▲ 17.9%

Area-wide 2 BR FMR$1,014Bon Homme County, SD

Rank in the area2ndof 7 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,008

2 BR Small Area FMR$1,120

110% of SAFMR$1,232

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

Studio$780▲ 20.0%

1 BR$930▲ 19.2%

2 BR$1,120▲ 17.9%

3 BR$1,550▲ 17.4%

4 BR$1,870▲ 17.6%

FY2027 FY2026

Where 57062 sits in the Bon Homme County, SD area

Of the 7 ZIP codes HUD lists for the area, 57062 has the 2nd highest two-bedroom Small Area FMR. Bon Homme County, 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,120 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	$780	$702 – $858	$706	$650
1 bedroom	$930	$837 – $1,023	$838	$780
2 bedrooms	$1,120	$1,008 – $1,232	$1,014	$950
3 bedrooms	$1,550	$1,395 – $1,705	$1,404	$1,320
4 bedrooms	$1,870	$1,683 – $2,057	$1,695	$1,590

A household renting a two-bedroom home at the Small Area FMR of $1,120 needs about $44,800 a year to keep housing costs at 30% of income. The area median family income is $92,300 and the 80% low-income limit for four people is $75,600. ZIP code 57062 lies mainly in Bon Homme County. See the Bon Homme County, SD county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
68760	Niobrara	10.1 mi	$1,010
57066	Tyndall	10.6 mi	$1,040
57315	Avon	10.9 mi	$1,010
57329	Dante	13.7 mi	$1,430
57063	Tabor	14.4 mi	$1,250
68724	Center	14.6 mi	$1,020

Questions

What is the Fair Market Rent for ZIP code 57062?

HUD's FY2027 Small Area Fair Market Rents for 57062 are $780 (studio), $930 (1 BR), $1,120 (2 BR), $1,550 (3 BR) and $1,870 (4 BR) a month.

What is the Section 8 payment standard in 57062?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57062 that range is $1,008 to $1,232 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 57062?

The FY2026 income limits of the Bon Homme County, SD area apply: median family income $92,300, low-income (80%) limit $75,600 for a family of four.