2024 · South Dakota
Rental yield in South Dakota
In 2024, the typical rental in South Dakota produced a gross yield of 4.1% — $999/mo median rent against a $290K median home value, ranking 38th of 51 states.
4.1%
Gross rental yield
below the 4.9% U.S. median
$999/mo
Median gross rent
incl. utilities (ACS)
$290K
Median home value
owner-occupied (ACS)
South Dakota metros by yield
Metropolitan areas in South Dakota with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Sioux City, IA-NE-SD | 5.6% | $1,002/mo | $215K |
| Sioux Falls, SD-MN | 4.0% | $1,094/mo | $331K |
| Rapid City, SD | 3.9% | $1,168/mo | $361K |
Frequently asked questions
What is the gross rental yield in South Dakota?
In 2024, South Dakota had a gross rental yield of 4.1% — $999/mo median gross rent against a $290K median home value. That ranks 38th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which South Dakota metros have the best rental yield?
Among South Dakota metros covered by the data, gross yield was highest in Sioux City, IA-NE-SD (5.6%), Sioux Falls, SD-MN (4.0%), and Rapid City, SD (3.9%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in South Dakota
Yield shows where the numbers work; our Investor Financing Report for South Dakota shows the rate premium, denial rate, and DSCR lending investors face there.
Run a South Dakota deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.