Clay County, South Dakota Housing Market Prices
Clay County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 94% above the South Dakota median More expensive than 75% of counties in South Dakota$178,750
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Median rent 19% below the South Dakota median$769
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Clay County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,750 | $92,142 | $248,835 |
| Price Trend (Annual %) | 41.8% | -1.1% | 7.5% |
| Median Gross Rent | $769 | $946 | $1,407 |
| Rent Trend (Annual %) | 1.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Clay County is about 94% higher than in South Dakota. Rent is about 19% lower than the South Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Clay County, up about 41.8% and 1.4% a year respectively. Home prices are changing faster.
Median rent in Clay County rose about 13.4% between 2015 and 2024, from $678 to $769. Over the same span, rent in South Dakota rose about 44.4%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Clay County.
Buying the median-priced home in Clay County costs roughly 19.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Clay County. The price-to-rent ratio in South Dakota is about 8.1.
| Metric | Clay County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,750 | $92,142 | $248,835 |
| Median Household Income | $57,627 | $75,087 | $80,455 |
| Price-to-Income Ratio | 3.1 | 1.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Clay County rose about 66.5%, while median household income rose about 71.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Clay County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.0% | 61.3% | 58.5% |
| Rental Rate | 43.6% | 28.1% | 31.2% |
| Vacancy Rate | 11.4% | 10.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Clay County has a homeownership rate of 45.0%, lower than the South Dakota average of 61.3%. Its housing vacancy rate is 11.4%, compared with 10.5% in South Dakota.
Housing Stock
| Metric | Clay County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.40 people | 2.53 people |
| Median Structure Built Year | 1974 | 1980 | 1978 |
| Median Number of Rooms | 5.1 | 5.9 | 5.5 |
The typical housing unit in Clay County was built around 1974. On average, 2.3 people live in a home with about 5.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Clay County, South Dakota.
What is the median home price in Clay County, South Dakota?
The median home price in Clay County, South Dakota is $178,750, higher than the South Dakota average of $92,142.
What is the average home price in Clay County, South Dakota?
The typical home price in Clay County, South Dakota, reported as the median sale price, is $178,750. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Clay County, South Dakota?
The median gross rent in Clay County, South Dakota is $769 per month, lower than the South Dakota average of $946.
What was the median gross rent in Clay County in 2020?
In 2020, the median gross rent in Clay County, South Dakota was $725 per month.
What is the price-to-rent ratio in Clay County, South Dakota?
The price-to-rent ratio in Clay County, South Dakota is about 19.4, meaning it would take roughly 19.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Clay County.
Are home prices or rent rising faster in Clay County, South Dakota?
Both home prices and rent are rising in Clay County, up about 41.8% and 1.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Clay County, South Dakota?
45.0% of households in Clay County, South Dakota own their home, lower than the South Dakota average of 61.3%.
What is the vacancy rate in Clay County, South Dakota?
The housing vacancy rate in Clay County, South Dakota is 11.4%, higher than the South Dakota average of 10.5%.
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