Minnehaha County South Dakota Residential Rent and Rental Statistics
The median monthly gross residential rent in Minnehaha County SD was $838 in 2019 according to the Census ACS survey.1 Average gross rent in Minnehaha County was $855 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 Minnehaha County median and average rent data will be released in September of 2021.
Data is also available below for Minnehaha County rental vacancy rates, Minnehaha County rent as a percent of median income and the fraction of renters in Minnehaha County.
Real Gross Rent in Minnehaha County 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% |
| Minnehaha County SD Median Gross Rent | $838 | +2.70% | +3.58% |
Minnehaha County SD Real Gross Rent Trends
At $838, real median gross rent in Minnehaha County was at its highest level in 2019 since the series began in 2005. Average gross rent for Minnehaha County peaked in real terms in 2018 at $869 and is now $14 (1.61%) lower.
Real Gross Rent: Minnehaha County SD Median, Minnehaha County SD Average, South Dakota Median, US Median
Real Gross Rent History for Minnehaha County
| Date | US Median |
South Dakota Median |
Minnehaha County SD Median |
Minnehaha County SD Average |
|---|---|---|---|---|
| 2019 | $1,097 | $769 | $838 | $855 |
| 2018 | $1,077 | $747 | $816 | $869 |
| 2017 | $1,043 | $744 | $793 | $828 |
| 2016 | $1,027 | $739 | $809 | $855 |
| 2015 | $1,017 | $716 | $781 | $802 |
| 2014 | $986 | $683 | $740 | $757 |
| 2013 | $953 | $671 | $707 | $727 |
| 2012 | $940 | $693 | $752 | $751 |
| 2011 | $941 | $661 | $720 | $725 |
| 2010 | $955 | $660 | $714 | $758 |
| 2009 | $960 | $641 | $753 | $768 |
| 2007 | $927 | $618 | $727 | $779 |
| 2005 | $910 | $625 | $756 | $730 |
Minnehaha County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Minnehaha County South Dakota was 7.80% according to Census ACS data.
Rental Vacancy Rate in Minnehaha County South Dakota
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| South Dakota | 6.93% | -0.56% | +0.27% |
| Minnehaha County SD | — | — | — |
Trends in Minnehaha County SD Rental Vacancy Rate
The rental vacancy rate in Minnehaha County peaked in 2009 at 11.12%. Since then it has fallen by 3.32% to 7.80%. Data records for this series originated in 2005. From a 2016 post peak low of 4.74%, the rental vacancy rate has increased by 3.06%.
Rental Vacancy Rate: Minnehaha County SD, South Dakota, US
Historical Rental Vacancy Rate data for Minnehaha County
| Date | US | South Dakota | Minnehaha County SD |
|---|---|---|---|
| 2019 | 5.97% | 6.93% | — |
| 2018 | 6.15% | 7.49% | 7.80% |
| 2017 | 6.18% | 6.35% | — |
| 2016 | 5.89% | 6.66% | 4.74% |
| 2015 | 5.85% | 5.16% | — |
| 2014 | 6.32% | 5.03% | 7.75% |
| 2013 | 6.49% | 4.17% | — |
| 2012 | 6.77% | 5.61% | 6.78% |
| 2011 | 7.40% | 7.40% | 6.29% |
| 2010 | 8.17% | 7.46% | — |
| 2009 | 8.43% | 6.35% | 11.12% |
| 2007 | 7.87% | 6.85% | — |
| 2005 | 7.74% | 6.24% | — |
Rent as a Fraction of Income
Using median household income data for Minnehaha County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Minnehaha County, median monthly gross rent as a fraction of median household income was 16.23% in 2019 according to the ACS.
Minnehaha County 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% |
| Minnehaha County SD | 16.23% | -0.16% | +0.78% |
Trends in Minnehaha County SD Rent as a Fraction of Income
The fraction of median Minnehaha County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 17.55%. Since then it has fallen by 1.32% to 16.23%.
Fraction of Income towards Rent: Minnehaha County SD, South Dakota, US
Historical Data for Annual Rent as a Fraction of Income in Minnehaha County South Dakota
| Date | US | South Dakota | Minnehaha County SD |
|---|---|---|---|
| 2019 | 20.03% | 15.50% | 16.23% |
| 2018 | 20.50% | 15.65% | 16.38% |
| 2017 | 20.13% | 15.33% | 15.11% |
| 2016 | 20.43% | 15.55% | 15.45% |
| 2015 | 20.63% | 15.28% | 16.08% |
| 2014 | 20.89% | 15.23% | 15.34% |
| 2013 | 20.78% | 15.62% | 15.45% |
| 2012 | 20.65% | 16.15% | 17.55% |
| 2011 | 20.70% | 15.20% | 15.58% |
| 2010 | 20.50% | 15.45% | 15.57% |
| 2009 | 20.12% | 14.97% | 16.67% |
| 2007 | 18.66% | 14.54% | 15.20% |
| 2005 | 18.89% | 14.88% | 16.06% |
Renter Fraction in Minnehaha County South Dakota
You can calculate the renter fraction in Minnehaha County 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 Minnehaha County as a fraction of total Minnehaha County households. In 2019 38.90% of households were renters according to Census ACS data.
Minnehaha County 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% |
| Minnehaha County SD | 38.90% | +2.61% | +3.31% |
Trends in the Minnehaha County SD Renter Fraction
At 38.90%, the 2019 household based renter fraction in Minnehaha County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Minnehaha County SD, South Dakota, US
History of Minnehaha County Renter Fraction
| Date | US | South Dakota | Minnehaha County SD |
|---|---|---|---|
| 2019 | 35.89% | 32.18% | 38.90% |
| 2018 | 36.05% | 32.12% | 36.29% |
| 2017 | 36.13% | 32.29% | 35.80% |
| 2016 | 36.88% | 32.80% | 35.59% |
| 2015 | 36.97% | 31.81% | 35.94% |
| 2014 | 36.90% | 31.83% | 36.71% |
| 2013 | 36.50% | 32.77% | 36.19% |
| 2012 | 36.09% | 32.91% | 38.76% |
| 2011 | 35.42% | 31.51% | 35.59% |
| 2010 | 34.65% | 32.02% | 35.52% |
| 2009 | 34.13% | 32.09% | 34.48% |
| 2007 | 32.80% | 31.92% | 33.18% |
| 2005 | 33.10% | 30.96% | 33.08% |
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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