Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Jerauld County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,312 | $98,153 | $242,182 |
| Price Trend (Annual %) | 4.2% | -0.4% | 8.2% |
| Median Gross Rent | $565 | $912 | $1,342 |
| Rent Trend (Annual %) | 2.3% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jerauld County is about 23% higher than in South Dakota. Rent is about 38% lower than the South Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2018-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Jerauld County, up about 4.2% and 2.3% a year respectively. Home prices are changing faster.
Median rent in Jerauld County rose about 1.7% between 2015 and 2023, from $555 to $565. Over the same span, rent in South Dakota rose about 39.2%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Jerauld County.
Buying the median-priced home in Jerauld County costs roughly 17.8 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 Jerauld County. The price-to-rent ratio in South Dakota is about 9.0.
| Metric | Jerauld County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,312 | $98,153 | $242,182 |
| Median Household Income | $75,077 | $72,558 | $78,145 |
| Price-to-Income Ratio | 1.6 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2018 and 2022, the median home price in Jerauld County rose about 15.5%, while median household income rose about 89.6% between 2009 and 2023 — 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 | Jerauld County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.1% | 61.2% | 58.2% |
| Rental Rate | 12.5% | 27.9% | 31.3% |
| Vacancy Rate | 17.4% | 10.9% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Jerauld County has a homeownership rate of 70.1%, higher than the South Dakota average of 61.2%. Its housing vacancy rate is 17.4%, compared with 10.9% in South Dakota.
Housing Stock
| Metric | Jerauld County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1956 | 1978 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Jerauld County was built around 1956. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jerauld County, South Dakota.
What is the median home price in Jerauld County, South Dakota?
The median home price in Jerauld County, South Dakota is $120,312, higher than the South Dakota average of $98,153.
What is the average home price in Jerauld County, South Dakota?
The typical home price in %s, reported as the median sale price, is %s. 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 Jerauld County, South Dakota?
The median gross rent in Jerauld County, South Dakota is $565 per month, lower than the South Dakota average of $912.
What was the median gross rent in Jerauld County in 2020?
In 2020, the median gross rent in Jerauld County, South Dakota was $485 per month.
What is the price-to-rent ratio in Jerauld County, South Dakota?
The price-to-rent ratio in Jerauld County, South Dakota is about 17.8, meaning it would take roughly 17.8 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 Jerauld County.
Are home prices or rent rising faster in Jerauld County, South Dakota?
Both home prices and rent are rising in Jerauld County, up about 4.2% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jerauld County, South Dakota?
70.1% of households in Jerauld County, South Dakota own their home, higher than the South Dakota average of 61.2%.
What is the vacancy rate in Jerauld County, South Dakota?
The housing vacancy rate in Jerauld County, South Dakota is 17.4%, higher than the South Dakota average of 10.9%.