Pennington County South Dakota Residential Rent and Rental Statistics
The median monthly gross residential rent in Pennington County SD was $841 in 2019 according to the Census ACS survey.1 Average gross rent in Pennington County was $859 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 Pennington County median and average rent data will be released in September of 2021.
Data is also available below for Pennington County rental vacancy rates, Pennington County rent as a percent of median income and the fraction of renters in Pennington County.
Real Gross Rent in Pennington 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% |
| Pennington County SD Median Gross Rent | $841 | +1.20% | +5.39% |
Pennington County SD Real Gross Rent Trends
Median gross rent for Pennington County peaked in real terms in 2015 at $853 and is now $12 (1.41%) lower. Average gross rent for Pennington County peaked in real terms in 2018 at $879 and is now $20 (2.28%) lower.
Real Gross Rent: Pennington County SD Median, Pennington County SD Average, South Dakota Median, US Median
Real Gross Rent History for Pennington County
| Date | US Median |
South Dakota Median |
Pennington County SD Median |
Pennington County SD Average |
|---|---|---|---|---|
| 2019 | $1,097 | $769 | $841 | $859 |
| 2018 | $1,077 | $747 | $831 | $879 |
| 2017 | $1,043 | $744 | $841 | $875 |
| 2016 | $1,027 | $739 | $798 | $758 |
| 2015 | $1,017 | $716 | $853 | $828 |
| 2014 | $986 | $683 | $818 | $797 |
| 2013 | $953 | $671 | $768 | $752 |
| 2012 | $940 | $693 | $824 | $831 |
| 2011 | $941 | $661 | $784 | $721 |
| 2010 | $955 | $660 | $809 | $791 |
| 2009 | $960 | $641 | $757 | $785 |
| 2007 | $927 | $618 | $771 | $771 |
| 2005 | $910 | $625 | $766 | $755 |
Pennington 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 Pennington County South Dakota was 8.30% according to Census ACS data.
Rental Vacancy Rate in Pennington 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% |
| Pennington County SD | — | — | — |
Trends in Pennington County SD Rental Vacancy Rate
The rental vacancy rate in Pennington County peaked in 2016 at 9.27%. Since then it has fallen by 0.97% to 8.30%. Data records for this series originated in 2005.
Rental Vacancy Rate: Pennington County SD, South Dakota, US
Historical Rental Vacancy Rate data for Pennington County
| Date | US | South Dakota | Pennington County SD |
|---|---|---|---|
| 2019 | 5.97% | 6.93% | — |
| 2018 | 6.15% | 7.49% | 8.30% |
| 2017 | 6.18% | 6.35% | — |
| 2016 | 5.89% | 6.66% | 9.27% |
| 2015 | 5.85% | 5.16% | — |
| 2014 | 6.32% | 5.03% | 3.92% |
| 2013 | 6.49% | 4.17% | — |
| 2012 | 6.77% | 5.61% | 3.93% |
| 2011 | 7.40% | 7.40% | 7.96% |
| 2010 | 8.17% | 7.46% | — |
| 2009 | 8.43% | 6.35% | 5.36% |
| 2007 | 7.87% | 6.85% | 4.99% |
| 2005 | 7.74% | 6.24% | — |
Rent as a Fraction of Income
Using median household income data for Pennington County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Pennington County, median monthly gross rent as a fraction of median household income was 17.37% in 2019 according to the ACS.
Pennington 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% |
| Pennington County SD | 17.37% | +0.78% | -0.57% |
Trends in Pennington County SD Rent as a Fraction of Income
The fraction of median Pennington County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 19.44%. Since then it has fallen by 2.07% to 17.37%.
Fraction of Income towards Rent: Pennington County SD, South Dakota, US
Historical Data for Annual Rent as a Fraction of Income in Pennington County South Dakota
| Date | US | South Dakota | Pennington County SD |
|---|---|---|---|
| 2019 | 20.03% | 15.50% | 17.37% |
| 2018 | 20.50% | 15.65% | 16.59% |
| 2017 | 20.13% | 15.33% | 17.86% |
| 2016 | 20.43% | 15.55% | 17.95% |
| 2015 | 20.63% | 15.28% | 18.34% |
| 2014 | 20.89% | 15.23% | 19.44% |
| 2013 | 20.78% | 15.62% | 17.89% |
| 2012 | 20.65% | 16.15% | 18.77% |
| 2011 | 20.70% | 15.20% | 17.79% |
| 2010 | 20.50% | 15.45% | 19.01% |
| 2009 | 20.12% | 14.97% | 16.84% |
| 2007 | 18.66% | 14.54% | 18.06% |
| 2005 | 18.89% | 14.88% | 17.42% |
Renter Fraction in Pennington County South Dakota
You can calculate the renter fraction in Pennington 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 Pennington County as a fraction of total Pennington County households. In 2019 32.21% of households were renters according to Census ACS data.
Pennington 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% |
| Pennington County SD | 32.21% | +0.60% | +0.65% |
Trends in the Pennington County SD Renter Fraction
The Pennington County household renter fraction peaked in in 2012 at 35.30% and is now 3.09% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Pennington County SD, South Dakota, US
History of Pennington County Renter Fraction
| Date | US | South Dakota | Pennington County SD |
|---|---|---|---|
| 2019 | 35.89% | 32.18% | 32.21% |
| 2018 | 36.05% | 32.12% | 31.61% |
| 2017 | 36.13% | 32.29% | 34.73% |
| 2016 | 36.88% | 32.80% | 31.56% |
| 2015 | 36.97% | 31.81% | 29.85% |
| 2014 | 36.90% | 31.83% | 34.56% |
| 2013 | 36.50% | 32.77% | 34.70% |
| 2012 | 36.09% | 32.91% | 35.30% |
| 2011 | 35.42% | 31.51% | 32.70% |
| 2010 | 34.65% | 32.02% | 34.66% |
| 2009 | 34.13% | 32.09% | 33.06% |
| 2007 | 32.80% | 31.92% | 32.88% |
| 2005 | 33.10% | 30.96% | 28.75% |
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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