McPherson County, South Dakota Housing Market
In McPherson County, South Dakota, the median home value is $85,600, with a median monthly rent of $594. This places McPherson County at #3048 nationally out of 3134 counties by median home value, and #61 within South Dakota.
📈 Price Trend (2017 → 2024)
ℹ️ FHFA HPI data is not available for this county due to limited mortgage transaction volume.
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $884
- Establishments: 79
- BLS QCEW, 2025
Housing Supply
- Single-family: 7
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 821 (avg $63,967)
- Outflow: 821 (avg $63,967)
- IRS Statistics of Income
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💰 Mortgage Guide → 🧾 Property Tax Data →How McPherson County Compares
| Metric | McPherson County | South Dakota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $85,600 | $181,021 | $227,706 |
| Median Gross Rent | $594 | $784 | $968 |
| Owner Occupancy Rate | 81.3% | 72.6% | 73.3% |
| Price/Rent Ratio | 12.0 | 19.0 | 18.7 |
Market Analysis
The median home value in McPherson County is 52.7% below the South Dakota state average and 62.4% below the U.S. national average. The median rent of $594/month is 24.2% below the state average.
With a price-to-rent ratio of 12.0, buying a home in McPherson County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
McPherson County has an owner-occupancy rate of 81.3%, 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 |
|---|---|---|---|
| Dimmit County | Texas | $85,500 | $823 |
| Sioux County | North Dakota | $85,400 | $444 |
| Dillon County | South Carolina | $85,400 | $679 |
| Mitchell County | Texas | $85,800 | $524 |
| McCreary County | Kentucky | $85,300 | $577 |
Other Counties in South Dakota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Mellette County | $84,100 | $708 | 60.4% |
| Ziebach County | $99,600 | $734 | 57.1% |
| Corson County | $69,800 | $496 | 59.1% |
| Dewey County | $69,600 | $692 | 61.2% |
| Perkins County | $114,600 | $738 | 78.4% |
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).