South Dakota
Ranked #15 of 51 for housing affordability
Median Home Price
🏠$268K
3.73x income
Median Rent
🔑$921
26.5% rent-burdened
Median Income
💰$72K
Population: 909,824
Homeownership
🏡69.0%
1,437 experiencing homelessness
Housing Shortage
📉10,000
units needed
Building Permits (2024)
🔨6,017
Price-to-Income
📊3.73x
Severe Rent Burden
⚠️11.5%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1088) is above the state median rent ($921) — vouchers cover typical rents.
Metros in South Dakota
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Sioux Falls | 65 | $308K | $988 | $76K | 27.0% |
| Rapid City | 78 | $322K | $1,125 | $77K | 20.2% |
Market Trends
Homeownership Rate
69.0%
Rent-to-Income Ratio
15.0%
of gross income spent on rent
Total Households
378,559
Owner-Occupied
262,639
Renter-Occupied
115,920
Homelessness
Latest Count (2024)
1,338
1-Year Change
+4.4%
10-Year Trend (2015–2024)
+29.2%
1,036 → 1,338
Housing Policies
Construction Activity
Total Permits (2024)
6,017
0.4% of national total
Single-Family
3,257
54% of state permits
Multi-Family
2,760
46% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
10,000
units needed
National Shortage
7,300,000
0.1% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
South Dakota burden rates with national demographic breakdown
Cost-Burdened Renters
26.5%
paying >30% of income
Severely Burdened
11.5%
paying >50% of income
Households >30% Burden
20,720
Households >35% Burden
9,044