Department of Numbers

South Dakota Residential Rent and Rental Statistics

The median monthly gross residential rent in South Dakota was $675 in 2015 according to the Census ACS survey.1 Average gross rent was $675 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 South Dakota median and average rent data will be released in September of 2017.

Data is also available below for South Dakota rental vacancy rates, South Dakota rent as a percent of median income and the fraction of renters in South Dakota.

Show dollars as: Nominal Real

Real Gross Rent in South Dakota (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
South Dakota Median Gross Rent $675 +4.81% +3.37%

South Dakota Real Gross Rent Trends

At $675, real median gross rent in South Dakota was at its highest level in 2015 since the series began in 2005. At $675, real average gross rent in South Dakota was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in South Dakota: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for South Dakota

Date US Median South Dakota Median South Dakota Average
2015 $959 $675 $675
2014 $930 $644 $641
2013 $898 $632 $614
2012 $886 $653 $625
2011 $887 $623 $595
2010 $901 $623 $598
2009 $905 $604 $580
2008 $920 $635 $606
2007 $874 $583 $560
2006 $883 $604 $564
2005 $858 $589 $543

South Dakota Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for South Dakota was 5.16% according to Census ACS data.

Rental Vacancy Rate in South Dakota

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
South Dakota 5.16% +0.13% -0.45%

Trends in South Dakota Rental Vacancy Rate

The rental vacancy rate in South Dakota peaked in 2010 at 7.46%. Since then it has fallen by 2.30% to 5.16%. Data records for this series originated in 2005. From a 2013 post peak low of 4.17%, the rental vacancy rate has increased by 0.99%.

Rental Vacancy Rate: South Dakota, US

Rental vacancy rate in South Dakota

Historical Rental Vacancy Rate data for South Dakota

Date US South Dakota
2015 5.85% 5.16%
2014 6.32% 5.03%
2013 6.49% 4.17%
2012 6.77% 5.61%
2011 7.40% 7.40%
2010 8.17% 7.46%
2009 8.43% 6.35%
2008 7.86% 5.34%
2007 7.87% 6.85%
2006 7.70% 7.27%
2005 7.74% 6.24%

South Dakota Rent as a Fraction of Income

Using median household income data for South Dakota, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For South Dakota, median monthly gross rent as a fraction of median household income was 15.28% in 2015 according to the ACS.

South Dakota Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
South Dakota 15.28% +0.05% -0.88%

Trends in South Dakota Rent as a Fraction of Income

The fraction of median South Dakota household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 16.15%. Since then it has fallen by 0.88% to 15.28%.

Fraction of Income towards Rent: South Dakota, US

Percent of median household income going towards median monthly gross rent in South Dakota

Historical Data for Annual Rent as a Fraction of Income in South Dakota

Date US South Dakota
2015 20.63% 15.28%
2014 20.89% 15.23%
2013 20.78% 15.62%
2012 20.65% 16.15%
2011 20.70% 15.20%
2010 20.50% 15.45%
2009 20.12% 14.97%
2008 19.00% 14.83%
2007 18.66% 14.54%
2006 18.90% 14.64%
2005 18.89% 14.88%

Renter Fraction in South Dakota

You can calculate the renter fraction in South Dakota in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in South Dakota as a fraction of total South Dakota households. In 2015 31.81% of households were renters according to Census ACS data.

South Dakota Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
South Dakota 31.81% -0.02% -1.10%

Trends in the South Dakota Renter Fraction

The South Dakota household renter fraction peaked in in 2012 at 32.91% and is now 1.10% below that level. The origin year for the series is 2005.

Fraction of Renting Households: South Dakota, US

Fraction of renters in South Dakota

History of South Dakota Renter Fraction

Date US South Dakota
2015 36.97% 31.81%
2014 36.90% 31.83%
2013 36.50% 32.77%
2012 36.09% 32.91%
2011 35.42% 31.51%
2010 34.65% 32.02%
2009 34.13% 32.09%
2008 33.36% 30.80%
2007 32.80% 31.92%
2006 32.73% 30.81%
2005 33.10% 30.96%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.