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 | Turner County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $449,999 | $98,153 | $242,182 |
| Price Trend (Annual %) | 53.7% | -0.4% | 8.2% |
| Median Gross Rent | $744 | $912 | $1,342 |
| Rent Trend (Annual %) | 2.0% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Turner County is about 358% higher 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 Turner County, up about 53.7% and 2.0% a year respectively. Home prices are changing faster.
Median rent in Turner County rose about 20.3% between 2015 and 2023, from $619 to $744. Over the same span, rent in South Dakota rose about 39.2%.
Affordability
On average, housing unit costs 6.0 yearly household incomes in Turner County.
Buying the median-priced home in Turner County costs roughly 50.4 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 Turner County. The price-to-rent ratio in South Dakota is about 9.0.
| Metric | Turner County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $449,999 | $98,153 | $242,182 |
| Median Household Income | $75,361 | $72,558 | $78,145 |
| Price-to-Income Ratio | 6.0 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Turner County rose about 817.0%, while median household income rose about 59.4% between 2009 and 2023 — 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 | Turner County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.6% | 61.2% | 58.2% |
| Rental Rate | 19.1% | 27.9% | 31.3% |
| Vacancy Rate | 9.3% | 10.9% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Turner County has a homeownership rate of 71.6%, higher than the South Dakota average of 61.2%. Its housing vacancy rate is 9.3%, compared with 10.9% in South Dakota.
Housing Stock
| Metric | Turner County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1971 | 1978 | 1978 |
| Median Number of Rooms | 6.5 | 5.9 | 5.5 |
The typical housing unit in Turner County was built around 1971. On average, 2.4 people live in a home with about 6.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Turner County, South Dakota.
What is the median home price in Turner County, South Dakota?
The median home price in Turner County, South Dakota is $449,999, higher than the South Dakota average of $98,153.
What is the average home price in Turner 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 Turner County, South Dakota?
The median gross rent in Turner County, South Dakota is $744 per month, lower than the South Dakota average of $912.
What was the median gross rent in Turner County in 2020?
In 2020, the median gross rent in Turner County, South Dakota was $624 per month.
What is the price-to-rent ratio in Turner County, South Dakota?
The price-to-rent ratio in Turner County, South Dakota is about 50.4, meaning it would take roughly 50.4 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 Turner County.
Are home prices or rent rising faster in Turner County, South Dakota?
Both home prices and rent are rising in Turner County, up about 53.7% and 2.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Turner County, South Dakota?
71.6% of households in Turner County, South Dakota own their home, higher than the South Dakota average of 61.2%.
What is the vacancy rate in Turner County, South Dakota?
The housing vacancy rate in Turner County, South Dakota is 9.3%, lower than the South Dakota average of 10.9%.