State rental market analysis · SD
South Dakota rental markets
5 tracked cities over 20,000 population, 5 ranked and summarized by their median Overall. Every number traces to Census, Zillow and BLS. All states ranked →
Browse every South Dakota ZIP Code area → · the full server-rendered index for this state.
Part of the West North Central Census division (Midwest region).
The honest read
South Dakota ranks #28 of 51 states for rental investing, with a median Overall of 47/100 across its ranked cities, right at the national median. 5 ranked cities roll up into this grade.
A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 5 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | State value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 4.7% | not measured |
| Rent growth | Growth | 3.4% | not measured |
| Home value growth | Growth | 4.1% | not measured |
| Population growth | Growth | 1.6% | not measured |
| Job growth | Growth | 1.1% | not measured |
| Price-to-income | Cash Flow | 4.8× | not measured |
| Unemployment | Stability | 1.7% | not measured |
| Rental demand | Stability | 40% renters · 551.3% vacancy | not measured |
| Income growth | Growth | 5.5% | not measured |
Every city in South Dakota, ranked
Led by Sioux Falls at 54/100. Click any column to re-sort; every city links to its full shown-math breakdown.
| SD rank | City | Grade | Cash Flow | Growth | Stability | Typical home value | Gross yield | National rank |
|---|---|---|---|---|---|---|---|---|
| 1 | Sioux Falls | 54 | C | B | C | $336,110 | 4.7% | #579 |
| 2 | Rapid City | 50 | D | B | C | $367,120 | 4.9% | #794 |
| 3 | Watertown | 47 | D | C | C | $316,022 | 4.6% | #923 |
| 4 | Brookings | 44 | D | C | C | $327,724 | 4.2% | #1114 |
| 5 | Aberdeen | 33 | C | F | C | $245,872 | 5.3% | #1560 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2019–2023 · Census PEP July 2024 · BLS LAUS county 2023 annual. Generated 2026-09-01. Methodology & limitations · underwrite any specific deal with the free calculators.
ZIP markets in South Dakota
375 Census ZIP Codes (ZCTAs) in South Dakota · 143 data-eligible for subscores. These are sub-city government areas ranked separately from the South Dakota city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), a newer release than the ACS 2019–2023 figures the city table above uses; the same measure can legitimately disagree between the two.
Best overall ZIP Codes in South Dakota
Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical SD state rank; the smaller figure is its national rank. Separate from the South Dakota city table and not directly comparable to it.
| SD rank | ZIP Code | Overallgrade · national | Key metric |
|---|---|---|---|
| #1 | 57106Sioux Falls | A 71#339 nat | 4.4%Survey yield |
| #2 | 57032Harrisburg | A 68#972 nat | 5.0%Survey yield |
| #3 | 57108Sioux Falls | A 67#1,027 nat | 3.7%Survey yield |
| #4 | 57006Brookings | A 66#1,227 nat | 3.9%Survey yield |
| #4 | 57783Spearfish | A 66#1,227 nat | 3.1%Survey yield |
| #6 | 57104Sioux Falls | A 65#1,649 nat | 5.1%Survey yield |
| #7 | 57110Sioux Falls | A 65#1,715 nat | 3.1%Survey yield |
| #8 | 57703Rapid City | A 64#1,836 nat | 6.0%Survey yield |
| #9 | 57103Sioux Falls | B 63#2,141 nat | 4.2%Survey yield |
| #10 | 57107Sioux Falls | B 63#2,169 nat | 4.9%Survey yield |
| #11 | 57071Volga | B 63#2,335 nat | 5.4%Survey yield |
| #12 | 57702Rapid City | B 62#2,583 nat | 3.9%Survey yield |
Top affordability ZIP Codes in South Dakota
State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.
| # | ZIP Code | Affordability | Key metric |
|---|---|---|---|
| 1 | 57770Pine Ridge | 98#26 nat | 15.5%Survey yield |
| 2 | 57572Spring Creek | 93#223 nat | 18.2%Survey yield |
| 3 | 57623Dupree | 77#1,771 nat | 9.6%Survey yield |
| 4 | 57714Allen | 75#2,115 nat | 6.7%Survey yield |
| 5 | 57438Faulkton | 72#2,525 nat | 7.1%Survey yield |
| 6 | 57451Mina | 69#3,301 nat | 7.4%Survey yield |
| 7 | 57735Edgemont | 66#3,941 nat | 7.4%Survey yield |
| 8 | 57355Kimball | 65#4,092 nat | 6.9%Survey yield |
| 9 | 57625North Eagle Butte | 65#4,118 nat | 12.6%Survey yield |
| 10 | 57580Okreek | 65#4,302 nat | 7.5%Survey yield |
| 11 | 57016Chester | 63#4,620 nat | 5.7%Survey yield |
| 12 | 57472Selby | 62#5,053 nat | 8.1%Survey yield |
Deepest rental-market ZIP Codes in South Dakota
State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.
| # | ZIP Code | Rental market | Key metric |
|---|---|---|---|
| 1 | 57714Allen | 84#22 nat | 6.7%Survey yield |
| 2 | 57348Hitchcock | 77#548 nat | 4.2%Survey yield |
| 3 | 57783Spearfish | 75#855 nat | 3.1%Survey yield |
| 4 | 57732Deadwood | 75#893 nat | 4.0%Survey yield |
| 5 | 57049North Sioux City | 75#945 nat | 3.2%Survey yield |
| 6 | 57106Sioux Falls | 75#976 nat | 4.4%Survey yield |
| 7 | 57108Sioux Falls | 73#1,339 nat | 3.7%Survey yield |
| 8 | 57026Elkton | 71#1,854 nat | 5.7%Survey yield |
| 9 | 57770Pine Ridge | 70#1,932 nat | 15.5%Survey yield |
| 10 | 57241Hayti | 67#2,792 nat | 7.4%Survey yield |
| 11 | 57368Plankinton | 67#2,885 nat | 5.6%Survey yield |
| 12 | 57375Stickney | 67#2,981 nat | 5.9%Survey yield |