Department of Numbers

Minnehaha County South Dakota Residential Rent and Rental Statistics

The median monthly gross residential rent in Minnehaha County SD was $769 in 2017 according to the Census ACS survey.1 Average gross rent in Minnehaha County was $803 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Minnehaha County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Minnehaha County South Dakota (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
South Dakota Median Gross Rent $722 +0.70% +9.06%
Minnehaha County SD Median Gross Rent $769 -2.04% +7.10%

Minnehaha County SD Real Gross Rent Trends

Median gross rent for Minnehaha County peaked in real terms in 2016 at $785 and is now $16 (2.04%) lower. Average gross rent for Minnehaha County peaked in real terms in 2016 at $830 and is now $27 (3.25%) lower.

Real Gross Rent: Minnehaha County SD Median, Minnehaha County SD Average, South Dakota Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Minnehaha County

Date US
Median
South Dakota
Median
Minnehaha County SD
Median
Minnehaha County SD
Average
2017 $1,012 $722 $769 $803
2016 $996 $717 $785 $830
2015 $987 $694 $757 $778
2014 $956 $662 $718 $734
2013 $924 $651 $685 $705
2012 $912 $672 $729 $728
2011 $912 $641 $699 $703
2010 $927 $640 $693 $735
2009 $931 $621 $731 $745
2008 $947 $654 $739 $786
2007 $899 $599 $705 $755
2006 $909 $622 $728 $729

Minnehaha County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Minnehaha County South Dakota was 4.74% according to Census ACS data.

Rental Vacancy Rate in Minnehaha County South Dakota

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
South Dakota 6.35% -0.31% +1.32%
Minnehaha County SD

Trends in Minnehaha County SD Rental Vacancy Rate

The rental vacancy rate in Minnehaha County peaked in 2009 at 11.12%. Since then it has fallen by 6.38% to 4.74%. Data records for this series originated in 2005.

Rental Vacancy Rate: Minnehaha County SD, South Dakota, US

Rental vacancy rate in South Dakota

Historical Rental Vacancy Rate data for Minnehaha County

Date US South Dakota Minnehaha County SD
2017 6.18% 6.35%
2016 5.89% 6.66% 4.74%
2015 5.85% 5.16%
2014 6.32% 5.03% 7.75%
2013 6.49% 4.17%
2012 6.77% 5.61% 6.78%
2011 7.40% 7.40% 6.29%
2010 8.17% 7.46%
2009 8.43% 6.35% 11.12%
2008 7.86% 5.34%
2007 7.87% 6.85%
2006 7.70% 7.27%

Rent as a Fraction of Income

Using median household income data for Minnehaha County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Minnehaha County, median monthly gross rent as a fraction of median household income was 15.11% in 2017 according to the ACS.

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

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
South Dakota 15.33% -0.23% +0.10%
Minnehaha County SD 15.11% -0.34% -0.23%

Trends in Minnehaha County SD Rent as a Fraction of Income

The fraction of median Minnehaha County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 17.55%. Since then it has fallen by 2.44% to 15.11%.

Fraction of Income towards Rent: Minnehaha County SD, South Dakota, US

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

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

Date US South Dakota Minnehaha County SD
2017 20.13% 15.33% 15.11%
2016 20.43% 15.55% 15.45%
2015 20.63% 15.28% 16.08%
2014 20.89% 15.23% 15.34%
2013 20.78% 15.62% 15.45%
2012 20.65% 16.15% 17.55%
2011 20.70% 15.20% 15.58%
2010 20.50% 15.45% 15.57%
2009 20.12% 14.97% 16.67%
2008 19.00% 14.83% 13.88%
2007 18.66% 14.54% 15.20%
2006 18.90% 14.64% 14.72%

Renter Fraction in Minnehaha County South Dakota

You can calculate the renter fraction in Minnehaha County 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 Minnehaha County as a fraction of total Minnehaha County households. In 2017 35.80% of households were renters according to Census ACS data.

Minnehaha County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
South Dakota 32.29% -0.51% +0.46%
Minnehaha County SD 35.80% +0.21% -0.91%

Trends in the Minnehaha County SD Renter Fraction

The Minnehaha County household renter fraction peaked in in 2012 at 38.76% and is now 2.96% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Minnehaha County SD, South Dakota, US

Fraction of renters in Minnehaha County

History of Minnehaha County Renter Fraction

Date US South Dakota Minnehaha County SD
2017 36.13% 32.29% 35.80%
2016 36.88% 32.80% 35.59%
2015 36.97% 31.81% 35.94%
2014 36.90% 31.83% 36.71%
2013 36.50% 32.77% 36.19%
2012 36.09% 32.91% 38.76%
2011 35.42% 31.51% 35.59%
2010 34.65% 32.02% 35.52%
2009 34.13% 32.09% 34.48%
2008 33.36% 30.80% 33.79%
2007 32.80% 31.92% 33.18%
2006 32.73% 30.81% 32.02%

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.