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
- 2026-2027 QAP (SDHDA Board-approved June 15, 2026), 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.
South Dakota Housing (SDHDA) market study checklist → — every required item, with a link to the agency's guideline.
Key South Dakota rules
- Staleness window
- Market study completed within six months of submission (2026-2027 QAP, Exhibit 2)
- 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
Build the Market Data section of your South Dakota study
StudyScribe auto-fills the Market Data section — employment, unemployment, building permits, crime and amenities — from BLS, Census, HUD, FBI and Google sources, cites every figure, and exports a Word document formatted for South Dakota Housing (SD Housing) / South Dakota Housing Development Authority (SDHDA) submissions. Start free — no credit card.
Request access for your South Dakota study →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 six months of submission (2026-2027 QAP, Exhibit 2)
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.