Hamlin County, South Dakota Housing Market Prices
Hamlin 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 8% below the South Dakota median$85,000
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Median rent 15% below the South Dakota median$800
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hamlin County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,000 | $92,142 | $248,835 |
| Price Trend (Annual %) | 240.3% | -1.1% | 7.5% |
| Median Gross Rent | $800 | $946 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hamlin County is about 8% lower than in South Dakota. Rent is about 15% lower than the South Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2020
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hamlin County, up about 240.3% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Hamlin County rose about 31.5% between 2015 and 2024, from $608 to $800. Over the same span, rent in South Dakota rose about 44.4%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Hamlin County.
Buying the median-priced home in Hamlin County costs roughly 8.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hamlin County. The price-to-rent ratio in South Dakota is about 8.1.
| Metric | Hamlin County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,000 | $92,142 | $248,835 |
| Median Household Income | $86,859 | $75,087 | $80,455 |
| Price-to-Income Ratio | 1.0 | 1.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2020, the median home price in Hamlin County fell about 36.5%, while median household income rose about 86.2% 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 | Hamlin County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.9% | 61.3% | 58.5% |
| Rental Rate | 13.8% | 28.1% | 31.2% |
| Vacancy Rate | 23.3% | 10.5% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Hamlin County has a homeownership rate of 62.9%, higher than the South Dakota average of 61.3%. Its housing vacancy rate is 23.3%, compared with 10.5% in South Dakota.
Housing Stock
| Metric | Hamlin County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.83 people | 2.40 people | 2.53 people |
| Median Structure Built Year | 1970 | 1980 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Hamlin County was built around 1970. On average, 2.8 people live in a home with about 6.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hamlin County, South Dakota.
What is the median home price in Hamlin County, South Dakota?
The median home price in Hamlin County, South Dakota is $85,000, lower than the South Dakota average of $92,142.
What is the average home price in Hamlin County, South Dakota?
The typical home price in Hamlin County, South Dakota, reported as the median sale price, is $85,000. 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 Hamlin County, South Dakota?
The median gross rent in Hamlin County, South Dakota is $800 per month, lower than the South Dakota average of $946.
What was the median gross rent in Hamlin County in 2020?
In 2020, the median gross rent in Hamlin County, South Dakota was $587 per month.
What is the price-to-rent ratio in Hamlin County, South Dakota?
The price-to-rent ratio in Hamlin County, South Dakota is about 8.9, meaning it would take roughly 8.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hamlin County.
Are home prices or rent rising faster in Hamlin County, South Dakota?
Both home prices and rent are rising in Hamlin County, up about 240.3% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hamlin County, South Dakota?
62.9% of households in Hamlin County, South Dakota own their home, higher than the South Dakota average of 61.3%.
What is the vacancy rate in Hamlin County, South Dakota?
The housing vacancy rate in Hamlin County, South Dakota is 23.3%, higher than the South Dakota average of 10.5%.
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