Markets › South Dakota
South Dakota housing market
In the Mount Rushmore State, part of the Census Bureau's West North Central division, Pecan Street tracks two markets. Median sale prices run from $345K in Sioux Falls to $389K in Rapid City over Jul–Sep 2026. One of two is higher than a year earlier and one is lower; Rapid City leads at +6.4% and Sioux Falls trails at -0.8%.
Homes sit longest in Rapid City (64 median days on market) and sell fastest in Sioux Falls (48 days). The share of active listings with a price cut runs from 27% in Sioux Falls to 39% in Rapid City. Price-to-rent ratios run from about 17 in Sioux Falls to 18 in Rapid City, measured as years of HUD Fair Market Rent per median sale price. South Dakota's unemployment rate was 2.0% in Sep 2026 (BLS via FRED), below the national rate of 4.2%.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Rapid City | $389K | +6.4% | 64 | 39% | ≈ 18 |
| Sioux Falls | $345K | -0.8% | 48 | 27% | ≈ 17 |
Median sale price and year-over-year change from Redfin (rolling three months); median days on market and the share of active listings with a price cut from Realtor.com; price-to-rent is each market page's figure (its median sale price over a year of HUD Fair Market Rent). Figures are per metro market, not statewide.
Recent signals
No market signals flagged across this state right now.