Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$325,224+1.3% YoY · prices are rising
Market right nowBalanced marketMore homes for sale than last year, 15% have cut their price
Income needed to buy, per year$70,502About 0.9× the local median income ($80,546): affordable for a typical household
Days on market52 daysAbout the same pace as a year ago
Next 12 months+3.0%Zillow expects prices to rise slightly
The typical home in Minnehaha County, SD is worth $325,224, up 1.3% from a year ago. That is well above what local incomes have historically supported: fair value is about $282,342, so the area is 15.2% overvalued. It is a balanced market: homes take about 52 days to sell, listings are up 1% from a year ago, 15% of listings have had a price cut. Zillow expects prices to rise about 3.0% over the next year. A household needs about $70,502 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $80,546. Typical rent is $1,229 a month, or $1,732 for a house. In the latest IRS figures, 471 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$325,224
Change in 1 year
+1.3%
Overvalued %
+15.2%
Show 7 more
Fair home value
$282,342
Change in 5 years
+22.6%
Zillow forecast, next 12 months
+3.0%
Home value to income
4.0×
Monthly mortgage payment (20% down)
$1,763
Income needed to afford it
$70,502
Property tax rate
1.14%
Rent and investing
Typical rent
$1,229
Typical rent for houses
$1,732
Price-to-rent ratio
22.0×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,228
Gross rental yield
4.54%
Cap rate (estimate)
2.95%
Market activity
Listings vs a year ago
+1.0%
Days on market
52
Listings with a price cut
14.6%
Show 3 more
Homes for sale
891
Pending sales per 100 listings
34
Asking price per sq ft
$195
People and jobs
Median household income
$80,546
Population change (1 year)
+1.6%
Unemployment rate
2.5%
Show 4 more
Population
212,691
Income adjusted for cost of living
$88,903
Net moves in (IRS)
+471
Cost of living (US = 100)
90.6
Schools, risk and environment
School rating (1 to 10)
6.3
FEMA hazard risk score (0 to 100)
89.5
Unhealthy air days a year
4
Show 4 more
Flood risk score
85.5
Wildfire risk score
71.3
Walkability (1 to 20)
11.0
Road, rail and air noise
53 dB
Questions people ask
Is Minnehaha County, SD overvalued?
Home prices in Minnehaha County, SD are well above what local incomes have historically supported: fair value is about $282,342, so the area is 15.2% overvalued.
Is Minnehaha County, SD a buyer's or seller's market?
Minnehaha County, SD is a balanced market: homes take about 52 days to sell, listings are up 1% from a year ago, 15% of listings have had a price cut.
Are home prices going down in Minnehaha County, SD?
Home values in Minnehaha County, SD are up 1.3% over the last year. Zillow's forecast for the next 12 months is +3.0%.
How much do you need to earn to buy a home in Minnehaha County, SD?
A household needs about $70,502 a year to afford the typical home in Minnehaha County, SD at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $80,546.