South Dakota Residential Rent and Rental Statistics
The median monthly gross residential rent in South Dakota was $769 in 2019 according to the Census ACS survey.1 Average gross rent was $749 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 South Dakota median and average rent data will be released in September of 2021.
Data is also available below for South Dakota rental vacancy rates, South Dakota rent as a percent of median income and the fraction of renters in South Dakota.
Real Gross Rent in South Dakota (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| South Dakota Median Gross Rent | $769 | +2.95% | +4.06% |
South Dakota Real Gross Rent Trends
At $769, real median gross rent in South Dakota was at its highest level in 2019 since the series began in 2005. Average gross rent for South Dakota peaked in real terms in 2017 at $757 and is now $8 (1.06%) lower.
Real Gross Rent in South Dakota: Median, Average, US Median
Real Gross Rent History for South Dakota
| Date | US Median | South Dakota Median | South Dakota Average |
|---|---|---|---|
| 2019 | $1,097 | $769 | $749 |
| 2018 | $1,077 | $747 | $745 |
| 2017 | $1,043 | $744 | $757 |
| 2016 | $1,027 | $739 | $728 |
| 2015 | $1,017 | $716 | $716 |
| 2014 | $986 | $683 | $680 |
| 2013 | $953 | $671 | $652 |
| 2012 | $940 | $693 | $663 |
| 2011 | $941 | $661 | $631 |
| 2010 | $955 | $660 | $635 |
| 2009 | $960 | $641 | $615 |
| 2007 | $927 | $618 | $594 |
| 2005 | $910 | $625 | $576 |
South Dakota Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for South Dakota was 6.93% according to Census ACS data.
Rental Vacancy Rate in South Dakota
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| South Dakota | 6.93% | -0.56% | +0.27% |
Trends in South Dakota Rental Vacancy Rate
The rental vacancy rate in South Dakota peaked in 2018 at 7.49%. Since then it has fallen by 0.56% to 6.93%. Data records for this series originated in 2005.
Rental Vacancy Rate: South Dakota, US
Historical Rental Vacancy Rate data for South Dakota
| Date | US | South Dakota |
|---|---|---|
| 2019 | 5.97% | 6.93% |
| 2018 | 6.15% | 7.49% |
| 2017 | 6.18% | 6.35% |
| 2016 | 5.89% | 6.66% |
| 2015 | 5.85% | 5.16% |
| 2014 | 6.32% | 5.03% |
| 2013 | 6.49% | 4.17% |
| 2012 | 6.77% | 5.61% |
| 2011 | 7.40% | 7.40% |
| 2010 | 8.17% | 7.46% |
| 2009 | 8.43% | 6.35% |
| 2007 | 7.87% | 6.85% |
| 2005 | 7.74% | 6.24% |
South Dakota Rent as a Fraction of Income
Using median household income data for South Dakota, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For South Dakota, median monthly gross rent as a fraction of median household income was 15.50% in 2019 according to the ACS.
South Dakota Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| South Dakota | 15.50% | -0.15% | -0.05% |
Trends in South Dakota Rent as a Fraction of Income
The fraction of median South Dakota household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 16.15%. Since then it has fallen by 0.65% to 15.50%.
Fraction of Income towards Rent: South Dakota, US
Historical Data for Annual Rent as a Fraction of Income in South Dakota
| Date | US | South Dakota |
|---|---|---|
| 2019 | 20.03% | 15.50% |
| 2018 | 20.50% | 15.65% |
| 2017 | 20.13% | 15.33% |
| 2016 | 20.43% | 15.55% |
| 2015 | 20.63% | 15.28% |
| 2014 | 20.89% | 15.23% |
| 2013 | 20.78% | 15.62% |
| 2012 | 20.65% | 16.15% |
| 2011 | 20.70% | 15.20% |
| 2010 | 20.50% | 15.45% |
| 2009 | 20.12% | 14.97% |
| 2007 | 18.66% | 14.54% |
| 2005 | 18.89% | 14.88% |
Renter Fraction in South Dakota
You can calculate the renter fraction in South Dakota in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in South Dakota as a fraction of total South Dakota households. In 2019 32.18% of households were renters according to Census ACS data.
South Dakota Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| South Dakota | 32.18% | +0.06% | -0.62% |
Trends in the South Dakota Renter Fraction
The South Dakota household renter fraction peaked in in 2012 at 32.91% and is now 0.73% below that level. The origin year for the series is 2005.
Fraction of Renting Households: South Dakota, US
History of South Dakota Renter Fraction
| Date | US | South Dakota |
|---|---|---|
| 2019 | 35.89% | 32.18% |
| 2018 | 36.05% | 32.12% |
| 2017 | 36.13% | 32.29% |
| 2016 | 36.88% | 32.80% |
| 2015 | 36.97% | 31.81% |
| 2014 | 36.90% | 31.83% |
| 2013 | 36.50% | 32.77% |
| 2012 | 36.09% | 32.91% |
| 2011 | 35.42% | 31.51% |
| 2010 | 34.65% | 32.02% |
| 2009 | 34.13% | 32.09% |
| 2007 | 32.80% | 31.92% |
| 2005 | 33.10% | 30.96% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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