Minnehaha County, South Dakota Housing Market
In Minnehaha County, South Dakota, the median home value is $287,600, with a median monthly rent of $978. This places Minnehaha County at #690 nationally out of 3134 counties by median home value, and #7 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: $1,286
- Establishments: 9,940
- BLS QCEW, 2025
Housing Supply
- Single-family: 966
- Multi-family: 1,078
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 91,717 (avg $102,241)
- Outflow: 85,790 (avg $104,156)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Minnehaha County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 57020 | 292.5 | +1.82% | 2025 |
| 2 | 57003 | 299.5 | +2.89% | 2025 |
| 3 | 57104 | 292.0 | +5.13% | 2025 |
| 4 | 57033 | 295.9 | +1.27% | 2025 |
| 5 | 57103 | 256.6 | +2.01% | 2025 |
| 6 | 57005 | 258.3 | +3.27% | 2025 |
| 7 | 57105 | 266.4 | +0.20% | 2025 |
| 8 | 57110 | 241.7 | +3.33% | 2025 |
| 9 | 57107 | 249.7 | +0.45% | 2025 |
| 10 | 57055 | 254.6 | +20.12% | 2022 |
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 Minnehaha County Compares
| Metric | Minnehaha County | South Dakota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $287,600 | $181,021 | $227,706 |
| Median Gross Rent | $978 | $784 | $968 |
| Owner Occupancy Rate | 63.1% | 72.6% | 73.3% |
| Price/Rent Ratio | 24.5 | 19.0 | 18.7 |
Market Analysis
The median home value in Minnehaha County is 58.9% above the South Dakota state average and 26.3% above the U.S. national average. The median rent of $978/month is 24.7% above the state average.
With a price-to-rent ratio of 24.5, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Minnehaha County has an owner-occupancy rate of 63.1%, compared to 72.6% in South Dakota and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Miami County | Kansas | $287,700 | $1,107 |
| Dodge County | Minnesota | $287,700 | $1,020 |
| Horry County | South Carolina | $287,700 | $1,255 |
| Camden County | New Jersey | $287,100 | $1,402 |
| Washington County | Texas | $288,100 | $1,165 |
Other Counties in South Dakota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Union County | $301,100 | $1,069 | 73.1% |
| Pennington County | $302,200 | $1,120 | 69.3% |
| Brookings County | $264,600 | $901 | 57.2% |
| Meade County | $310,900 | $1,264 | 72.9% |
| Lake County | $247,600 | $947 | 73.8% |
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).