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 | McCook County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,833 | $98,153 | $242,182 |
| Price Trend (Annual %) | 6.8% | -0.4% | 8.2% |
| Median Gross Rent | $749 | $912 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in McCook County is about 43% lower than in South Dakota. Rent is about 18% lower than the South Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in McCook County, up about 6.8% and 3.7% a year respectively. Home prices are changing faster.
Median rent in McCook County rose about 27.6% between 2015 and 2023, from $587 to $749. Over the same span, rent in South Dakota rose about 39.2%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in McCook County.
Buying the median-priced home in McCook County costs roughly 6.2 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 McCook County. The price-to-rent ratio in South Dakota is about 9.0.
| Metric | McCook County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,833 | $98,153 | $242,182 |
| Median Household Income | $81,752 | $72,558 | $78,145 |
| Price-to-Income Ratio | 0.7 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in McCook County fell about 48.0%, while median household income rose about 84.4% 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 | McCook County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.5% | 61.2% | 58.2% |
| Rental Rate | 16.4% | 27.9% | 31.3% |
| Vacancy Rate | 10.1% | 10.9% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
McCook County has a homeownership rate of 73.5%, higher than the South Dakota average of 61.2%. Its housing vacancy rate is 10.1%, compared with 10.9% in South Dakota.
Housing Stock
| Metric | McCook County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1967 | 1978 | 1978 |
| Median Number of Rooms | 6.8 | 5.9 | 5.5 |
The typical housing unit in McCook County was built around 1967. On average, 2.5 people live in a home with about 6.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in McCook County, South Dakota.
What is the median home price in McCook County, South Dakota?
The median home price in McCook County, South Dakota is $55,833, lower than the South Dakota average of $98,153.
What is the average home price in McCook 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 McCook County, South Dakota?
The median gross rent in McCook County, South Dakota is $749 per month, lower than the South Dakota average of $912.
What was the median gross rent in McCook County in 2020?
In 2020, the median gross rent in McCook County, South Dakota was $595 per month.
What is the price-to-rent ratio in McCook County, South Dakota?
The price-to-rent ratio in McCook County, South Dakota is about 6.2, meaning it would take roughly 6.2 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 McCook County.
Are home prices or rent rising faster in McCook County, South Dakota?
Both home prices and rent are rising in McCook County, up about 6.8% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in McCook County, South Dakota?
73.5% of households in McCook County, South Dakota own their home, higher than the South Dakota average of 61.2%.
What is the vacancy rate in McCook County, South Dakota?
The housing vacancy rate in McCook County, South Dakota is 10.1%, lower than the South Dakota average of 10.9%.