ZIP 57242 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 57242 in the Codington County, SD FMR area.

Codington County, SD

$770Efficiency

$8401 bedroom

$1,0902 bedrooms

$1,4003 bedrooms

$1,4804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$770	$693	$847	$871
1 bedroom	$840	$756	$924	$943
2 bedrooms	$1,090	$981	$1,199	$1,233
3 bedrooms	$1,400	$1,260	$1,540	$1,504
4 bedrooms	$1,480	$1,332	$1,628	$1,715

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Hamlin County, SD

$770Efficiency

$8401 bedroom

$1,0902 bedrooms

$1,4003 bedrooms

$1,4804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$770	$693	$847	$706
1 bedroom	$840	$756	$924	$775
2 bedrooms	$1,090	$981	$1,199	$1,014
3 bedrooms	$1,400	$1,260	$1,540	$1,334
4 bedrooms	$1,480	$1,332	$1,628	$1,337

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 57242

$88,514average adjusted gross income per tax return (2022)

$33,273average salaries and wages per return

220tax returns filed

15%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	27.3%
$25,000 to $50,000	18.2%
$50,000 to $75,000	22.7%
$75,000 to $100,000	0.0%
$100,000 to $200,000	18.2%
$200,000 or more	13.6%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 0.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 57242?

HUD's FY2027 Small Area FMRs for ZIP 57242 (Codington County, SD) are $770 efficiency, $840 one bedroom, $1,090 two bedrooms, $1,400 three and $1,480 four bedrooms.

What payment standard can a housing authority set in ZIP 57242?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $981 to $1,199.

How affordable is rent in ZIP 57242?

Tax returns filed from ZIP 57242 reported an average adjusted gross income of $88,514 (2022). A two-bedroom unit at the Small Area FMR costs $13,080 a year, or 15% of that income.