FY2027 Small Area FMR · Sioux Falls, SD

ZIP 57197 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57197 (Sioux Falls, SD) is $1,170 a month, up 5.4% from FY2026. That is 5% below the Sioux Falls, SD area-wide FMR of $1,228.

2-bedroom SAFMR$1,170per month ▲ 5.4%

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

Rank in the area17thof 53 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,053

2 BR Small Area FMR$1,170

110% of SAFMR$1,287

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

Studio$900▲ 8.4%

1 BR$990▲ 4.2%

2 BR$1,170▲ 5.4%

3 BR$1,610▲ 5.9%

4 BR$1,960▲ 5.4%

FY2027 FY2026

Where 57197 sits in the Sioux Falls, SD area

Of the 53 ZIP codes HUD lists for the area, 57197 has the 17th 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 $1,170 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	$900	$810 – $990	$941	$830
1 bedroom	$990	$891 – $1,089	$1,044	$950
2 bedrooms	$1,170	$1,053 – $1,287	$1,228	$1,110
3 bedrooms	$1,610	$1,449 – $1,771	$1,694	$1,520
4 bedrooms	$1,960	$1,764 – $2,156	$2,053	$1,860

A household renting a two-bedroom home at the Small Area FMR of $1,170 needs about $46,800 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 57197 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
57105	Sioux Falls	0.3 mi	$1,170
57117	Sioux Falls	0.9 mi	$1,170
57103	Sioux Falls	2.8 mi	$1,150
57108	Sioux Falls	3.7 mi	$1,550
57106	Sioux Falls	5.0 mi	$1,300
57110	Sioux Falls	5.2 mi	$1,270

Questions

What is the Fair Market Rent for ZIP code 57197?

HUD's FY2027 Small Area Fair Market Rents for 57197 are $900 (studio), $990 (1 BR), $1,170 (2 BR), $1,610 (3 BR) and $1,960 (4 BR) a month.

What is the Section 8 payment standard in 57197?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57197 that range is $1,053 to $1,287 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 57197?

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.