Pennington County, South Dakota Housing Market
In Pennington County, South Dakota, the median home value is $302,200, with a median monthly rent of $1,120. This places Pennington County at #613 nationally out of 3134 counties by median home value, and #5 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: $1,143
- Establishments: 5,715
- BLS QCEW, 2025
Housing Supply
- Single-family: 465
- Multi-family: 98
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 54,949 (avg $96,936)
- Outflow: 48,462 (avg $98,419)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in Pennington County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 57703 | 312.6 | +2.47% | 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.
How Pennington County Compares
| Metric | Pennington County | South Dakota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $302,200 | $181,021 | $227,706 |
| Median Gross Rent | $1,120 | $784 | $968 |
| Owner Occupancy Rate | 69.3% | 72.6% | 73.3% |
| Price/Rent Ratio | 22.5 | 19.0 | 18.7 |
Market Analysis
The median home value in Pennington County is 66.9% above the South Dakota state average and 32.7% above the U.S. national average. The median rent of $1,120/month is 42.9% above the state average.
With a price-to-rent ratio of 22.5, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Pennington County has an owner-occupancy rate of 69.3%, 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 |
|---|---|---|---|
| Leon County | Florida | $301,800 | $1,291 |
| Chatham County | Georgia | $302,700 | $1,471 |
| Walworth County | Wisconsin | $302,700 | $1,150 |
| Harris County | Georgia | $302,800 | $1,048 |
| Brazoria County | Texas | $301,600 | $1,454 |
Other Counties in South Dakota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Union County | $301,100 | $1,069 | 73.1% |
| Meade County | $310,900 | $1,264 | 72.9% |
| Minnehaha County | $287,600 | $978 | 63.1% |
| Brookings County | $264,600 | $901 | 57.2% |
| Lawrence County | $346,500 | $938 | 65.1% |
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 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).