Department of Numbers

Pennington County South Dakota Residential Rent and Rental Statistics

The median monthly gross residential rent in Pennington County SD was $816 in 2017 according to the Census ACS survey.1 Average gross rent in Pennington County was $849 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 Pennington County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Pennington 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%
Pennington County SD Median Gross Rent $816 +5.43% +2.77%

Pennington County SD Real Gross Rent Trends

Median gross rent for Pennington County peaked in real terms in 2015 at $827 and is now $11 (1.33%) lower. At $849, real average gross rent in Pennington County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Pennington County

Date US
Median
South Dakota
Median
Pennington County SD
Median
Pennington County SD
Average
2017 $1,012 $722 $816 $849
2016 $996 $717 $774 $735
2015 $987 $694 $827 $804
2014 $956 $662 $794 $773
2013 $924 $651 $745 $729
2012 $912 $672 $800 $806
2011 $912 $641 $760 $700
2010 $927 $640 $785 $767
2009 $931 $621 $734 $762
2008 $947 $654 $755 $750
2007 $899 $599 $747 $747
2006 $909 $622 $704 $660

Pennington 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 Pennington County South Dakota was 9.27% according to Census ACS data.

Rental Vacancy Rate in Pennington 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%
Pennington County SD

Trends in Pennington County SD Rental Vacancy Rate

At 9.27%, Pennington County residential rental vacancy rate in 2016 is at the highest point since 2005, the beginning of our reporting for this series.

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

Rental vacancy rate in South Dakota

Historical Rental Vacancy Rate data for Pennington County

Date US South Dakota Pennington County SD
2017 6.18% 6.35%
2016 5.89% 6.66% 9.27%
2015 5.85% 5.16%
2014 6.32% 5.03% 3.92%
2013 6.49% 4.17%
2012 6.77% 5.61% 3.93%
2011 7.40% 7.40% 7.96%
2010 8.17% 7.46%
2009 8.43% 6.35% 5.36%
2008 7.86% 5.34%
2007 7.87% 6.85% 4.99%
2006 7.70% 7.27%

Rent as a Fraction of Income

Using median household income data for Pennington County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Pennington County, median monthly gross rent as a fraction of median household income was 17.86% in 2017 according to the ACS.

Pennington 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%
Pennington County SD 17.86% -0.09% -1.58%

Trends in Pennington County SD Rent as a Fraction of Income

The fraction of median Pennington County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 19.44%. Since then it has fallen by 1.58% to 17.86%.

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

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

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

Date US South Dakota Pennington County SD
2017 20.13% 15.33% 17.86%
2016 20.43% 15.55% 17.95%
2015 20.63% 15.28% 18.34%
2014 20.89% 15.23% 19.44%
2013 20.78% 15.62% 17.89%
2012 20.65% 16.15% 18.77%
2011 20.70% 15.20% 17.79%
2010 20.50% 15.45% 19.01%
2009 20.12% 14.97% 16.84%
2008 19.00% 14.83% 16.98%
2007 18.66% 14.54% 18.06%
2006 18.90% 14.64% 16.30%

Renter Fraction in Pennington County South Dakota

You can calculate the renter fraction in Pennington 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 Pennington County as a fraction of total Pennington County households. In 2017 34.73% of households were renters according to Census ACS data.

Pennington 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%
Pennington County SD 34.73% +3.17% +0.17%

Trends in the Pennington County SD Renter Fraction

The Pennington County household renter fraction peaked in in 2012 at 35.30% and is now 0.57% below that level. The origin year for the series is 2005.

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

Fraction of renters in Pennington County

History of Pennington County Renter Fraction

Date US South Dakota Pennington County SD
2017 36.13% 32.29% 34.73%
2016 36.88% 32.80% 31.56%
2015 36.97% 31.81% 29.85%
2014 36.90% 31.83% 34.56%
2013 36.50% 32.77% 34.70%
2012 36.09% 32.91% 35.30%
2011 35.42% 31.51% 32.70%
2010 34.65% 32.02% 34.66%
2009 34.13% 32.09% 33.06%
2008 33.36% 30.80% 34.30%
2007 32.80% 31.92% 32.88%
2006 32.73% 30.81% 30.43%

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.