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 | Yankton County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,827 | $98,153 | $242,182 |
| Price Trend (Annual %) | 22.5% | -0.4% | 8.2% |
| Median Gross Rent | $776 | $912 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Yankton County is about 76% lower than in South Dakota. Rent is about 15% 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 Yankton County, up about 22.5% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Yankton County rose about 33.8% between 2015 and 2023, from $580 to $776. Over the same span, rent in South Dakota rose about 39.2%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Yankton County.
Buying the median-priced home in Yankton County costs roughly 2.6 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 Yankton County. The price-to-rent ratio in South Dakota is about 9.0.
| Metric | Yankton County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,827 | $98,153 | $242,182 |
| Median Household Income | $74,031 | $72,558 | $78,145 |
| Price-to-Income Ratio | 0.3 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Yankton County fell about 57.7%, while median household income rose about 61.5% 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 | Yankton County | South Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.4% | 61.2% | 58.2% |
| Rental Rate | 25.9% | 27.9% | 31.3% |
| Vacancy Rate | 6.7% | 10.9% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Yankton County has a homeownership rate of 67.4%, higher than the South Dakota average of 61.2%. Its housing vacancy rate is 6.7%, compared with 10.9% in South Dakota.
Housing Stock
| Metric | Yankton County | South Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1974 | 1978 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Yankton County was built around 1974. On average, 2.2 people live in a home with about 6.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Yankton County, South Dakota.
What is the median home price in Yankton County, South Dakota?
The median home price in Yankton County, South Dakota is $23,827, lower than the South Dakota average of $98,153.
What is the average home price in Yankton 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 Yankton County, South Dakota?
The median gross rent in Yankton County, South Dakota is $776 per month, lower than the South Dakota average of $912.
What was the median gross rent in Yankton County in 2020?
In 2020, the median gross rent in Yankton County, South Dakota was $653 per month.
What is the price-to-rent ratio in Yankton County, South Dakota?
The price-to-rent ratio in Yankton County, South Dakota is about 2.6, meaning it would take roughly 2.6 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 Yankton County.
Are home prices or rent rising faster in Yankton County, South Dakota?
Both home prices and rent are rising in Yankton County, up about 22.5% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Yankton County, South Dakota?
67.4% of households in Yankton County, South Dakota own their home, higher than the South Dakota average of 61.2%.
What is the vacancy rate in Yankton County, South Dakota?
The housing vacancy rate in Yankton County, South Dakota is 6.7%, lower than the South Dakota average of 10.9%.