Rental Benchmark Overview
2-Bedroom Benchmark Rent
$950$11,400 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Faulk County, SD
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Faulk County, SD
Calculations assume standard housing affordability guidelines where shelter costs consume no more than 30% of gross income, based on full-time employment of 2,080 annual working hours.
| Bedroom Type | Monthly Rent | Annual Rent | Min. Annual Income | Hourly Wage (40h/wk) |
|---|---|---|---|---|
| Studio / Efficiency | $655 | $7,860 | $26,200 | $12.60/hr |
| 1-Bedroom Apartment | $724 | $8,688 | $28,960 | $13.92/hr |
| 2-Bedroom ApartmentStandard Benchmark | $950 | $11,400 | $38,000 | $18.27/hr |
| 3-Bedroom Home | $1,209 | $14,508 | $48,360 | $23.25/hr |
| 4-Bedroom Home | $1,471 | $17,652 | $58,840 | $28.29/hr |
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Frequently Asked Questions About Rent in Faulk County, SD
What is the Fair Market Rent for a 2-bedroom in Faulk County, SD?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Faulk County, SD is $950 per month ($11,400 per year).
What hourly wage is needed to afford rent in Faulk County, SD?
To comfortably afford a 2-bedroom apartment at $950/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.27 per hour ($38,000/year).
What are the HUD Fair Market Rents by bedroom count in Faulk County, SD?
Official 2026 HUD rents in Faulk County, SD are: Studio: $655/mo, 1-Bedroom: $724/mo, 2-Bedroom: $950/mo, 3-Bedroom: $1,209/mo, and 4-Bedroom: $1,471/mo.
How do HUD Fair Market Rents compare to local incomes in Faulk County, SD?
At the local Census ACS median household income of $57,750/year ($4,813/month), the benchmark 2-bedroom Fair Market Rent represents 19.7% of monthly income.
How is the 30% housing affordability standard calculated in Faulk County, SD?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $950/month, the required minimum annual gross income is calculated as ($950 × 12) ÷ 0.30 = $38,000 per year.