About This Property
Riverwood Apts comprises 24 low-income rental units in Vermillion, South Dakota, consisting of six one-bedroom and eighteen two-bedroom apartments. The property was placed in service in 1996 and participates in the 4% Low-Income Housing Tax Credit program. The community serves Clay County residents seeking affordable rental housing options.
Waitlist Information
Waitlist managed by Vermillion Housing and Redevelopment Commission
No current information found regarding the waiting list status for Public Housing units administered by Vermillion Housing and Redevelopment Commission.
The waiting list is open until further notice, and the estimated wait time is approximately three to four months. Preferences are given to current residents of Clay County, those in substandard housing, homeless, involuntarily displaced, those paying over 50% of income for housing, victims of domestic violence, veterans, and those living, working, or attending school locally.
Waitlist data provided by section8waitlist.org
Updated April 17, 2026
Property Details
Fair Market Rent - Clay County, SD
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $666 |
| 1 Bedroom | $747 |
| 2 Bedroom | $982 |
| 3 Bedroom | $1,384 |
| 4 Bedroom | $1,666 |
Income Limits - Clay County, SD
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,800
- Very Low (50%)
- $28,000
- Low (80%)
- $44,800
- Extremely Low (30%)
- $19,200
- Very Low (50%)
- $32,000
- Low (80%)
- $51,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $36,000
- Low (80%)
- $57,600
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $40,000
- Low (80%)
- $63,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $43,200
- Low (80%)
- $69,100
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $46,400
- Low (80%)
- $74,200
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,600
- Low (80%)
- $79,300
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $52,800
- Low (80%)
- $84,450
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,800 | $28,000 | $44,800 |
| 2 Persons | $19,200 | $32,000 | $51,200 |
| 3 Persons | $21,960 | $36,000 | $57,600 |
| 4 Persons | $26,500 | $40,000 | $63,950 |
| 5 Persons | $31,040 | $43,200 | $69,100 |
| 6 Persons | $35,580 | $46,400 | $74,200 |
| 7 Persons | $40,120 | $49,600 | $79,300 |
| 8 Persons | $44,660 | $52,800 | $84,450 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Vermillion, SD?+
The Fair Market Rent (FMR) for Clay County, SD is: $666 (Studio), $747 (1BR), $982 (2BR), $1384 (3BR), $1666 (4BR). Actual rent at subsidized properties like Riverwood Apts is typically 30% of household income or less.
What size apartments are available at Riverwood Apts?+
Riverwood Apts offers the following unit types: 6 One-Bedroom, 18 Two-Bedroom units, for a total of 24 units.
What are the income limits for affordable housing in Clay County, SD?+
For a 4-person household in Clay County, SD, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $40,000, Low Income (80% AMI): $63,950. These limits are set by HUD and updated annually.
How do I apply for housing at Riverwood Apts?+
Riverwood Apts is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What is the price range for apartments in Vermillion, SD?+
Based on Fair Market Rent for Clay County, the estimated price range is: 1-bedroom: $747, 2-bedroom: $982. Actual rent at Riverwood Apts may be lower for income-eligible households.
Is there a waitlist for Riverwood Apts?+
Public Housing waitlist is currently Closed. Section 8 (HCV) waitlist is currently Open. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Who manages Riverwood Apts?+
Riverwood Apts is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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