About This Property
Falls Terrace Apts comprises 62 low-income units in Sioux Falls, SD, with a mix of 48 three-bedroom and 14 four-bedroom apartments. The property was placed in service in 2006 and operates under 9% Low-Income Housing Tax Credit financing. The complex is managed and serves households meeting income eligibility requirements.
Waitlist Information
Waitlist managed by Sioux Falls Housing and Redevelopment Commission
Applications for the Public Housing Program waiting list can be obtained at the SFHRC office or mailed by calling the office. Rent is based on 30% of the tenant's adjusted monthly income.
The Housing Choice Voucher (HCV) waiting list will close on September 22, 2025. Applicants already on the list should use RED-PORTAL LOGIN for updates.
Waitlist data provided by section8waitlist.org
Updated May 28, 2026
Property Details
Fair Market Rent - Minnehaha 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 | $769 |
| 1 Bedroom | $884 |
| 2 Bedroom | $1,042 |
| 3 Bedroom | $1,417 |
| 4 Bedroom | $1,768 |
Income Limits - Minnehaha County, SD
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $17,350
- Very Low (50%)
- $28,900
- Low (80%)
- $46,200
- Extremely Low (30%)
- $19,800
- Very Low (50%)
- $33,000
- Low (80%)
- $52,800
- Extremely Low (30%)
- $22,300
- Very Low (50%)
- $37,150
- Low (80%)
- $59,400
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $41,250
- Low (80%)
- $66,000
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $44,550
- Low (80%)
- $71,300
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $47,850
- Low (80%)
- $76,600
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $51,150
- Low (80%)
- $81,850
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $54,450
- Low (80%)
- $87,150
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $17,350 | $28,900 | $46,200 |
| 2 Persons | $19,800 | $33,000 | $52,800 |
| 3 Persons | $22,300 | $37,150 | $59,400 |
| 4 Persons | $26,500 | $41,250 | $66,000 |
| 5 Persons | $31,040 | $44,550 | $71,300 |
| 6 Persons | $35,580 | $47,850 | $76,600 |
| 7 Persons | $40,120 | $51,150 | $81,850 |
| 8 Persons | $44,660 | $54,450 | $87,150 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Sioux Falls, SD?+
The Fair Market Rent (FMR) for Minnehaha County, SD is: $769 (Studio), $884 (1BR), $1042 (2BR), $1417 (3BR), $1768 (4BR). Actual rent at subsidized properties like Falls Terrace Apts is typically 30% of household income or less.
What size apartments are available at Falls Terrace Apts?+
Falls Terrace Apts offers the following unit types: 48 Three-Bedroom, 14 Four-Bedroom units, for a total of 62 units.
Is there a waitlist for Falls Terrace Apts?+
Public Housing waitlist is currently Open. 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.
What are the income limits for affordable housing in Minnehaha County, SD?+
For a 4-person household in Minnehaha County, SD, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $41,250, Low Income (80% AMI): $66,000. These limits are set by HUD and updated annually.
Who manages Falls Terrace Apts?+
Falls Terrace Apts is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Sioux Falls, SD?+
Based on Fair Market Rent for Minnehaha County, the estimated price range is: 3-bedroom: $1417. Actual rent at Falls Terrace Apts may be lower for income-eligible households.
How do I apply for housing at Falls Terrace Apts?+
Falls Terrace 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.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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