Rental Benchmark Overview
2-Bedroom Benchmark Rent
$940$11,280 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Lyman County, SD
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Lyman 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 | $648 | $7,776 | $25,920 | $12.46/hr |
| 1-Bedroom Apartment | $716 | $8,592 | $28,640 | $13.77/hr |
| 2-Bedroom ApartmentStandard Benchmark | $940 | $11,280 | $37,600 | $18.08/hr |
| 3-Bedroom Home | $1,127 | $13,524 | $45,080 | $21.67/hr |
| 4-Bedroom Home | $1,455 | $17,460 | $58,200 | $27.98/hr |
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Frequently Asked Questions About Rent in Lyman County, SD
What is the Fair Market Rent for a 2-bedroom in Lyman County, SD?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Lyman County, SD is $940 per month ($11,280 per year).
What hourly wage is needed to afford rent in Lyman County, SD?
To comfortably afford a 2-bedroom apartment at $940/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.08 per hour ($37,600/year).
What are the HUD Fair Market Rents by bedroom count in Lyman County, SD?
Official 2026 HUD rents in Lyman County, SD are: Studio: $648/mo, 1-Bedroom: $716/mo, 2-Bedroom: $940/mo, 3-Bedroom: $1,127/mo, and 4-Bedroom: $1,455/mo.
How do HUD Fair Market Rents compare to local incomes in Lyman County, SD?
At the local Census ACS median household income of $67,143/year ($5,595/month), the benchmark 2-bedroom Fair Market Rent represents 16.8% of monthly income.
How is the 30% housing affordability standard calculated in Lyman County, SD?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $940/month, the required minimum annual gross income is calculated as ($940 × 12) ÷ 0.30 = $37,600 per year.