South Dakota housing market
Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$317,874+2.3% YoY · prices are rising
Market right nowBalanced marketMore homes for sale than last year, 16% have cut their price
Income needed to buy, per year$68,909About 0.9× the local median income ($77,494): affordable for a typical household
Days on market62 daysAbout the same pace as a year ago
Next 12 months+3.2%Zillow expects prices to rise slightly
The typical home in South Dakota is worth $317,874, up 2.3% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $291,354, so the area is 9.1% overvalued. It is a balanced market: homes take about 62 days to sell, listings are up 0% from a year ago, 16% of listings have had a price cut. Zillow expects prices to rise about 3.2% over the next year. A household needs about $68,909 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 $77,494. In the latest IRS figures, 2,102 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 | $317,874 |
| Change in 1 year | +2.3% |
| Overvalued % | +9.1% |
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| Fair home value | $291,354 |
| Change in 5 years | +23.3% |
| Zillow forecast, next 12 months | +3.2% |
| Home value to income | 4.1× |
| Monthly mortgage payment (20% down) | $1,723 |
| Income needed to afford it | $68,909 |
| Property tax rate | 1.06% |
Rent and investing
| HUD Fair Market Rent, 2 bedrooms | $1,189 |
Market activity
| Listings vs a year ago | +0.4% |
| Days on market | 62 |
| Listings with a price cut | 16.0% |
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| Homes for sale | 3,535 |
| Pending sales per 100 listings | 27 |
| Asking price per sq ft | $199 |
People and jobs
| Median household income | $77,494 |
| Population change (1 year) | +0.9% |
| Unemployment rate | 2.9% |
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| Population | 935,094 |
| Income adjusted for cost of living | $87,465 |
| Net moves in (IRS) | +2,102 |
| Cost of living (US = 100) | 88.6 |
Schools, risk and environment
| FEMA hazard risk score (0 to 100) | 57.2 |
| Unhealthy air days a year | 3 |
| Flood risk score | 54.8 |
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| Wildfire risk score | 75.4 |
| Walkability (1 to 20) | 7.8 |
| Road, rail and air noise | 53 dB |
Questions people ask
- Is South Dakota overvalued?
- Home prices in South Dakota are slightly above what local incomes have historically supported: fair value is about $291,354, so the area is 9.1% overvalued.
- Is South Dakota a buyer's or seller's market?
- South Dakota is a balanced market: homes take about 62 days to sell, listings are up 0% from a year ago, 16% of listings have had a price cut.
- Are home prices going down in South Dakota?
- Home values in South Dakota are up 2.3% over the last year. Zillow's forecast for the next 12 months is +3.2%.
- How much do you need to earn to buy a home in South Dakota?
- A household needs about $68,909 a year to afford the typical home in South Dakota at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $77,494.
Metro areas
Counties
Aurora CountyBeadle CountyBennett CountyBon Homme CountyBrookings CountyBrown CountyBrule CountyBuffalo CountyButte CountyCampbell CountyCharles Mix CountyClark CountyClay CountyCodington CountyCorson CountyCounty 46113Custer CountyDavison CountyDay CountyDeuel CountyDewey CountyDouglas CountyEdmunds CountyFall River CountyFaulk CountyGrant CountyGregory CountyHaakon CountyHamlin CountyHand CountyHanson CountyHarding CountyHughes CountyHutchinson CountyHyde CountyJackson CountyJerauld CountyJones CountyKingsbury CountyLake CountyLawrence CountyLincoln CountyLyman CountyMarshall CountyMcCook CountyMcPherson CountyMeade CountyMellette CountyMiner CountyMinnehaha CountyMoody CountyOglala Lakota CountyPennington CountyPerkins CountyPotter CountyRoberts CountySanborn CountySpink CountyStanley CountySully CountyTodd CountyTripp CountyTurner CountyUnion CountyWalworth CountyYankton CountyZiebach County