FY2027 Small Area FMR · Lake City, SD
ZIP 57247 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57247 (Lake City, SD) is $1,050 a month, up 7.1% from FY2026. That is 4% above the Marshall County, SD area-wide FMR of $1,014.
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 57247 sits in the Marshall County, SD area
Of the 9 ZIP codes HUD lists for the area, 57247 has the 2nd highest two-bedroom Small Area FMR. Marshall 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 $1,050 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $740 | $666 – $814 | $706 | $670 |
| 1 bedroom | $820 | $738 – $902 | $775 | $770 |
| 2 bedrooms | $1,050 | $945 – $1,155 | $1,014 | $980 |
| 3 bedrooms | $1,430 | $1,287 – $1,573 | $1,384 | $1,340 |
| 4 bedrooms | $1,680 | $1,512 – $1,848 | $1,599 | $1,540 |
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 $112,200 and the 80% low-income limit for four people is $89,750. ZIP code 57247 lies mainly in Marshall County. See the Marshall County, SD county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 57247?
HUD's FY2027 Small Area Fair Market Rents for 57247 are $740 (studio), $820 (1 BR), $1,050 (2 BR), $1,430 (3 BR) and $1,680 (4 BR) a month.
What is the Section 8 payment standard in 57247?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57247 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 57247?
The FY2026 income limits of the Marshall County, SD area apply: median family income $112,200, low-income (80%) limit $89,750 for a family of four.