Spink County, South Dakota Housing Market Prices
Spink 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 21% below the South Dakota median$72,500
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Median rent 22% below the South Dakota median$734
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Spink County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $72,500 | $92,142 | $248,835 |
| Price Trend (Annual %) | 46.2% | -1.1% | 7.5% |
| Median Gross Rent | $734 | $946 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Spink County is about 21% lower than in South Dakota. Rent is about 22% 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 Spink County, up about 46.2% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Spink County rose about 36.1% between 2015 and 2024, from $539 to $734. Over the same span, rent in South Dakota rose about 44.4%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Spink County.
Buying the median-priced home in Spink County costs roughly 8.2 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 Spink County. The price-to-rent ratio in South Dakota is about 8.1.
| Metric | Spink County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $72,500 | $92,142 | $248,835 |
| Median Household Income | $71,068 | $75,087 | $80,455 |
| Price-to-Income Ratio | 1.0 | 1.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Spink County fell about 93.2%, while median household income rose about 48.5% 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 | Spink County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.1% | 61.3% | 58.5% |
| Rental Rate | 22.5% | 28.1% | 31.2% |
| Vacancy Rate | 17.4% | 10.5% | 10.2% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Spink County has a homeownership rate of 60.1%, lower than the South Dakota average of 61.3%. Its housing vacancy rate is 17.4%, compared with 10.5% in South Dakota.
Housing Stock
| Metric | Spink County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.40 people | 2.53 people |
| Median Structure Built Year | 1955 | 1980 | 1978 |
| Median Number of Rooms | 6.5 | 5.9 | 5.5 |
The typical housing unit in Spink County was built around 1955. On average, 2.4 people live in a home with about 6.5 rooms, staying for about 20.0 years on average.
Spink County, SD Housing Compared With Nearby Counties
How Spink County, SD compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Spink County, SD | 6,219 | $72,500 #1/2 | $734 #2/2 | 72.7% #1/2 |
| Brown County, SD | 37,877 | $62,333 | $777 | 67.6% |
Frequently Asked Questions
Common questions about the housing market in Spink County, South Dakota.
What is the median home price in Spink County, South Dakota?
The median home price in Spink County, South Dakota is $72,500, lower than the South Dakota average of $92,142.
What is the average home price in Spink County, South Dakota?
The typical home price in Spink County, South Dakota, reported as the median sale price, is $72,500. 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 Spink County, South Dakota?
The median gross rent in Spink County, South Dakota is $734 per month, lower than the South Dakota average of $946.
What was the median gross rent in Spink County in 2020?
In 2020, the median gross rent in Spink County, South Dakota was $613 per month.
What is the price-to-rent ratio in Spink County, South Dakota?
The price-to-rent ratio in Spink County, South Dakota is about 8.2, meaning it would take roughly 8.2 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 Spink County.
Are home prices or rent rising faster in Spink County, South Dakota?
Both home prices and rent are rising in Spink County, up about 46.2% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Spink County, South Dakota?
60.1% of households in Spink County, South Dakota own their home, lower than the South Dakota average of 61.3%.
What is the vacancy rate in Spink County, South Dakota?
The housing vacancy rate in Spink County, South Dakota is 17.4%, higher than the South Dakota average of 10.5%.
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