Lake County, South Dakota Housing Market
In Lake County, South Dakota, the median home value is $247,600, with a median monthly rent of $947. This places Lake County at #911 nationally out of 3134 counties by median home value, and #9 within South Dakota.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,136
- Establishments: 462
- BLS QCEW, 2025
Housing Supply
- Single-family: 26
- Multi-family: 60
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 4,796 (avg $92,079)
- Outflow: 4,389 (avg $94,699)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Lake County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 57018 | 267.4 | — | 2024 |
| 2 | 57042 | 304.7 | +4.93% | 2025 |
| 3 | 57022 | 265.8 | -1.87% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Lake County Compares
| Metric | Lake County | South Dakota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $247,600 | $181,021 | $227,706 |
| Median Gross Rent | $947 | $784 | $968 |
| Owner Occupancy Rate | 73.8% | 72.6% | 73.3% |
| Price/Rent Ratio | 21.8 | 19.0 | 18.7 |
Market Analysis
The median home value in Lake County is 36.8% above the South Dakota state average and 8.7% above the U.S. national average. The median rent of $947/month is 20.8% above the state average.
With a price-to-rent ratio of 21.8, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Lake County has an owner-occupancy rate of 73.8%, compared to 72.6% in South Dakota and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Dolores County | Colorado | $247,600 | $986 |
| Granville County | North Carolina | $247,700 | $1,008 |
| Huerfano County | Colorado | $247,800 | $838 |
| Bullitt County | Kentucky | $247,200 | $987 |
| Montour County | Pennsylvania | $248,100 | $1,142 |
Other Counties in South Dakota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Butte County | $244,600 | $972 | 76.1% |
| Hughes County | $242,000 | $990 | 72.0% |
| Codington County | $237,700 | $938 | 69.8% |
| Clay County | $232,300 | $770 | 50.8% |
| Brookings County | $264,600 | $901 | 57.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).