The agency & primary document
- Allocating agency
- South Dakota Housing (SD Housing) / South Dakota Housing Development Authority (SDHDA)
- QAP / guidelines
- https://www.sdhousing.org/develop-housing/available-development-programs/housing-tax-credits
- Governing document
- 2024-2025 QAP, Exhibit 2 — Market Analysis Requirements
- Methodology
- Agency-specific standalone methodology
Required market study sections
South Dakota uses its own standalone market study methodology rather than the NCHMA Model Content Standards. Agency-specific methodology — SDHDA publishes its own requirements in Exhibit 2.
Key South Dakota rules
- Staleness window
- Market study completed within 6 months of submission (2024-2025 biennial cycle)
- Rent-burden standard
- Rent burden defined as tenants paying more than 30% of income for housing (Exhibit 2)
- Persons per bedroom
- 1.5 persons per bedroom; 1.0 for efficiency (imputed income/rent assumption)
South Dakota-specific overlays
- Market study drives 150 of 1000 scoring points (§VII.A) — unusually heavy scoring weight
- Hard saturation gate: communities with 2+ LIHTC projects under construction OR below 90% leased may receive ZERO points — analyst should explicitly evaluate
- Five-year demand projection at 3 AMI bands (50%, 60%, 80%) for both renters AND owners
- Local PHA correspondence AND local planner correspondence required as SEPARATE items (not combinable)
- Executive Summary must include recommended modifications — analyst expected to make project-improvement recommendations
Required companion documents
- Disinterested-party statement required
Things analysts miss in South Dakota
- Market study drives scoring, not just threshold — 150 of 1000 points hang on the market study quality
- Analyst is expected to make project-improvement recommendations in the Executive Summary
Produce a compliant South Dakota market study in minutes
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Start a free South Dakota report →Frequently asked questions
Who reviews LIHTC market studies in South Dakota?
South Dakota Housing (SD Housing) / South Dakota Housing Development Authority (SDHDA) sets the market study requirements and reviews submissions for South Dakota Low-Income Housing Tax Credit applications.
How current must a South Dakota LIHTC market study be?
Market study completed within 6 months of submission (2024-2025 biennial cycle)
Does South Dakota follow NCHMA standards?
Agency-specific methodology — SDHDA publishes its own requirements in Exhibit 2.
Other states
This summary is for general reference and reflects South Dakota Housing (SD Housing) / South Dakota Housing Development Authority (SDHDA)'s published guidance as understood by StudyScribe; it is not legal or compliance advice. Always confirm requirements against the current QAP / market study guidelines before submission.