FY2027 Small Area FMR · Faulkton, SD
ZIP 57438 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57438 (Faulkton, SD) is $1,150 a month, up 10.6% from FY2026. That is 9% above the Faulk County, SD area-wide FMR of $1,057.
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 57438 sits in the Faulk County, SD area
Of the 11 ZIP codes HUD lists for the area, 57438 has the 1st highest two-bedroom Small Area FMR. Faulk 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 $1,057 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,150 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $800 | $720 – $880 | $736 | $720 |
| 1 bedroom | $880 | $792 – $968 | $808 | $790 |
| 2 bedrooms | $1,150 | $1,035 – $1,265 | $1,057 | $1,040 |
| 3 bedrooms | $1,480 | $1,332 – $1,628 | $1,359 | $1,320 |
| 4 bedrooms | $1,810 | $1,629 – $1,991 | $1,667 | $1,610 |
A household renting a two-bedroom home at the Small Area FMR of $1,150 needs about $46,000 a year to keep housing costs at 30% of income. The area median family income is $103,700 and the 80% low-income limit for four people is $82,950. ZIP code 57438 lies mainly in Faulk County. See the Faulk 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 57438?
HUD's FY2027 Small Area Fair Market Rents for 57438 are $800 (studio), $880 (1 BR), $1,150 (2 BR), $1,480 (3 BR) and $1,810 (4 BR) a month.
What is the Section 8 payment standard in 57438?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57438 that range is $1,035 to $1,265 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 57438?
The FY2026 income limits of the Faulk County, SD area apply: median family income $103,700, low-income (80%) limit $82,950 for a family of four.