FY2027 Small Area FMR · Rapid City, SD
ZIP 57702 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 57702 (Rapid City, SD) is $1,530 a month, up 8.5% from FY2026. That is 7% above the Rapid City, SD area-wide FMR of $1,430.
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 57702 sits in the Rapid City, SD area
Of the 22 ZIP codes HUD lists for the area, 57702 has the 4th highest two-bedroom Small Area FMR. Rapid City, 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 $1,430 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,530 for this ZIP code instead.
ZIP code 57702 crosses more than one HUD area. HUD also lists it under Meade County, SD (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,060 | $954 – $1,166 | $996 | $970 |
| 1 bedroom | $1,170 | $1,053 – $1,287 | $1,093 | $1,070 |
| 2 bedrooms | $1,530 | $1,377 – $1,683 | $1,430 | $1,410 |
| 3 bedrooms | $1,960 | $1,764 – $2,156 | $1,833 | $1,840 |
| 4 bedrooms | $2,550 | $2,295 – $2,805 | $2,390 | $2,300 |
A household renting a two-bedroom home at the Small Area FMR of $1,530 needs about $61,200 a year to keep housing costs at 30% of income. The area median family income is $101,300 and the 80% low-income limit for four people is $81,050. ZIP code 57702 lies mainly in Pennington County and Meade County. See the Rapid City, 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 57702?
HUD's FY2027 Small Area Fair Market Rents for 57702 are $1,060 (studio), $1,170 (1 BR), $1,530 (2 BR), $1,960 (3 BR) and $2,550 (4 BR) a month.
What is the Section 8 payment standard in 57702?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 57702 that range is $1,377 to $1,683 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 57702?
The FY2026 income limits of the Rapid City, SD area apply: median family income $101,300, low-income (80%) limit $81,050 for a family of four.