Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,336$16,032 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Pennington County, SD
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Pennington 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 | $921 | $11,052 | $36,840 | $17.71/hr |
| 1-Bedroom Apartment | $1,018 | $12,216 | $40,720 | $19.58/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,336 | $16,032 | $53,440 | $25.69/hr |
| 3-Bedroom Home | $1,743 | $20,916 | $69,720 | $33.52/hr |
| 4-Bedroom Home | $2,178 | $26,136 | $87,120 | $41.88/hr |
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Frequently Asked Questions About Rent in Pennington County, SD
What is the Fair Market Rent for a 2-bedroom in Pennington County, SD?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Pennington County, SD is $1,336 per month ($16,032 per year).
What hourly wage is needed to afford rent in Pennington County, SD?
To comfortably afford a 2-bedroom apartment at $1,336/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $25.69 per hour ($53,440/year).
What are the HUD Fair Market Rents by bedroom count in Pennington County, SD?
Official 2026 HUD rents in Pennington County, SD are: Studio: $921/mo, 1-Bedroom: $1,018/mo, 2-Bedroom: $1,336/mo, 3-Bedroom: $1,743/mo, and 4-Bedroom: $2,178/mo.
How do HUD Fair Market Rents compare to local incomes in Pennington County, SD?
At the local Census ACS median household income of $74,517/year ($6,210/month), the benchmark 2-bedroom Fair Market Rent represents 21.5% of monthly income.
How is the 30% housing affordability standard calculated in Pennington County, SD?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,336/month, the required minimum annual gross income is calculated as ($1,336 × 12) ÷ 0.30 = $53,440 per year.