FY2027 Small Area FMR · Okaton, SD

ZIP 57562 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57562 (Okaton, SD) is $1,070 a month, up 11.5% from FY2026. That is 6% above the Jones County, SD area-wide FMR of $1,014.

2-bedroom SAFMR$1,070per month ▲ 11.5%

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

Rank in the area3rdof 4 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

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

Studio$750▲ 13.6%

1 BR$820▲ 12.3%

2 BR$1,070▲ 11.5%

3 BR$1,380▲ 13.1%

4 BR$1,690▲ 14.2%

FY2027 FY2026

Where 57562 sits in the Jones County, SD area

Of the 4 ZIP codes HUD lists for the area, 57562 has the 3rd highest two-bedroom Small Area FMR. Jones 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 $1,070 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	$750	$675 – $825	$706	$660
1 bedroom	$820	$738 – $902	$775	$730
2 bedrooms	$1,070	$963 – $1,177	$1,014	$960
3 bedrooms	$1,380	$1,242 – $1,518	$1,304	$1,220
4 bedrooms	$1,690	$1,521 – $1,859	$1,599	$1,480

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 a year to keep housing costs at 30% of income. The area median family income is $93,600 and the 80% low-income limit for four people is $75,600. ZIP code 57562 lies mainly in Jones County. See the Jones County, SD county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
57559	Murdo	12.0 mi	$1,010
57521	Belvidere	13.7 mi	$1,040
57579	White River	21.6 mi	$1,130
57531	Draper	24.1 mi	$1,080
57543	Kadoka	28.3 mi	$1,010
57552	Midland	29.9 mi	$1,090

Questions

What is the Fair Market Rent for ZIP code 57562?

HUD's FY2027 Small Area Fair Market Rents for 57562 are $750 (studio), $820 (1 BR), $1,070 (2 BR), $1,380 (3 BR) and $1,690 (4 BR) a month.

What is the Section 8 payment standard in 57562?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57562 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 57562?

The FY2026 income limits of the Jones County, SD area apply: median family income $93,600, low-income (80%) limit $75,600 for a family of four.