McPherson County, South Dakota Housing Market Prices
McPherson 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 181% above the South Dakota median More expensive than 90% of counties in South Dakota$259,375
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Median rent 37% below the South Dakota median Cheaper than 86% of counties in South Dakota$593
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | McPherson County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,375 | $92,142 | $248,835 |
| Price Trend (Annual %) | 35.1% | -1.1% | 7.5% |
| Median Gross Rent | $593 | $946 | $1,407 |
| Rent Trend (Annual %) | 1.2% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in McPherson County is about 181% higher than in South Dakota. Rent is about 37% 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 McPherson County, up about 35.1% and 1.2% a year respectively. Home prices are changing faster.
Median rent in McPherson County rose about 50.8% between 2015 and 2024, from $393 to $593. Over the same span, rent in South Dakota rose about 44.4%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in McPherson County.
Buying the median-priced home in McPherson County costs roughly 36.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in McPherson County. The price-to-rent ratio in South Dakota is about 8.1.
| Metric | McPherson County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,375 | $92,142 | $248,835 |
| Median Household Income | $68,353 | $75,087 | $80,455 |
| Price-to-Income Ratio | 3.8 | 1.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in McPherson County rose about 797.1%, while median household income rose about 109.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | McPherson County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.7% | 61.3% | 58.5% |
| Rental Rate | 14.2% | 28.1% | 31.2% |
| Vacancy Rate | 24.1% | 10.5% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
McPherson County has a homeownership rate of 61.7%, about the same as the South Dakota average of 61.3%. Its housing vacancy rate is 24.1%, compared with 10.5% in South Dakota.
Housing Stock
| Metric | McPherson County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.99 people | 2.40 people | 2.53 people |
| Median Structure Built Year | 1964 | 1980 | 1978 |
| Median Number of Rooms | 6.8 | 5.9 | 5.5 |
The typical housing unit in McPherson County was built around 1964. On average, 2.0 people live in a home with about 6.8 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in McPherson County, South Dakota.
What is the median home price in McPherson County, South Dakota?
The median home price in McPherson County, South Dakota is $259,375, higher than the South Dakota average of $92,142.
What is the average home price in McPherson County, South Dakota?
The typical home price in McPherson County, South Dakota, reported as the median sale price, is $259,375. 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 McPherson County, South Dakota?
The median gross rent in McPherson County, South Dakota is $593 per month, lower than the South Dakota average of $946.
What was the median gross rent in McPherson County in 2020?
In 2020, the median gross rent in McPherson County, South Dakota was $492 per month.
What is the price-to-rent ratio in McPherson County, South Dakota?
The price-to-rent ratio in McPherson County, South Dakota is about 36.5, meaning it would take roughly 36.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in McPherson County.
Are home prices or rent rising faster in McPherson County, South Dakota?
Both home prices and rent are rising in McPherson County, up about 35.1% and 1.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in McPherson County, South Dakota?
61.7% of households in McPherson County, South Dakota own their home, higher than the South Dakota average of 61.3%.
What is the vacancy rate in McPherson County, South Dakota?
The housing vacancy rate in McPherson County, South Dakota is 24.1%, higher than the South Dakota average of 10.5%.
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