State hub
Home appreciation in South Dakota
South Dakota's FHFA HPI® all-transactions index changed +2.2% over the year to Q2 2026, versus +3.0% nationally, ranking 41st of 51 states and D.C. Below, compare its 8 3-digit ZIP regions and 3 metro areas.
- 1-year change
- +2.2%
- 5-year change
- +41.1%
- Since Q1 1995
- +302%
- State rank (1 year)
- 41st
U.S. +3.0%
33rd of 51
U.S. +292%
of 51 states and D.C.
South Dakota vs the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- South Dakota: 402.5
- United States: 391.6
South Dakota appreciation by time window
| Window | SD | U.S. | Gap vs U.S. |
|---|---|---|---|
| 1 year | +2.2% | +3.0% | −0.8 pts |
| 3 years | +11.4% | +12.9% | −1.5 pts |
| 5 years | +41.1% | +41.3% | −0.2 pts |
| 10 years | +90.2% | +93.3% | −3.1 pts |
| Since Q1 1995 | +302% | +292% | +10.9 pts |
3-digit ZIP regions in South Dakota
Fastest-appreciating ZIP codes in South Dakota →Sorted by one-year change. 6 of 8 regions beat the national one-year change of +3.0%. Place labels name the largest community in each region.
| # | 3-digit ZIP region | 1 year | 5 years | 10 years | Since Q1 1995 |
|---|---|---|---|---|---|
| 1 | 577 · Rapid City, SD area | +3.6% | +48.6% | +106% | +410% |
| 2 | 572 · Watertown, SD area | +3.0% | +47.1% | +89.6% | +318% |
| 3 | 573 · Mitchell, SD area | +3.0% | +47.1% | +89.6% | +318% |
| 4 | 574 · Aberdeen, SD area | +3.0% | +47.1% | +89.6% | +318% |
| 5 | 575 · Pierre, SD area | +3.0% | +47.1% | +89.6% | +318% |
| 6 | 576 · Mobridge, SD area | +3.0% | +47.1% | +89.6% | +318% |
| 7 | 571 · Sioux Falls, SD area | +2.5% | +35.2% | +85.3% | +248% |
| 8 | 570 · Brookings, SD area | +2.3% | +40.4% | +90.6% | +300% |
Metro areas in South Dakota
| Metro area | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|
| Sioux Falls, SD-MN | +2.5% | +36.3% | +266% |
| Rapid City, SD | +1.8% | +45.1% | +389% |
| Sioux City, IA-NE-SD | -1.1% | +39.6% | +229% |
Boom, bust, and recovery in South Dakota
South Dakota's index peaked in Q1 2009, fell 2.7% to its low in Q2 2010, and regained its peak in Q3 2012, about 3.5 years after the top. Today it sits +118% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| SD | Q1 2009 | Q2 2010 | -2.7% | Q3 2012 (3.5 yrs) | +118% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, South Dakota's index has changed +81.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | SD after inflation | U.S. after inflation |
|---|---|---|---|
| 1 year | +3.9% | -1.6% | -0.8% |
| 3 years | +9.8% | +1.4% | +2.8% |
| 5 years | +24.0% | +13.7% | +13.9% |
| 10 years | +39.1% | +36.7% | +39.0% |
| Since Q1 1995 | +121% | +81.8% | +76.8% |
If you bought in South Dakota in…
An example $300,000 purchase grown at the statewide index rate to Q2 2026. Local markets within the state vary widely.
| Bought in | Index change | $300,000 then, at the state rate |
|---|---|---|
| Q2 1995 | +289% | $1,165,991 |
| Q2 2000 | +221% | $963,365 |
| Q2 2005 | +149% | $746,283 |
| Q2 2010 | +124% | $673,409 |
| Q2 2015 | +97.7% | $593,077 |
| Q2 2020 | +58.6% | $475,691 |
| Q2 2021 | +41.1% | $423,189 |
| Q2 2023 | +11.4% | $334,090 |
| Q2 2025 | +2.2% | $306,609 |
Frequently asked questions
- How much have home prices gone up in South Dakota?
- FHFA HPI® data for South Dakota shows the all-transactions index changed +2.2% over the year to Q2 2026, +41.1% over five years, +90.2% over ten years, and +302% since Q1 1995.
- Is South Dakota appreciating faster than the national average?
- Over the past year South Dakota's index moved −0.8 pts versus the U.S. (+3.0%), ranking 41st of 51 states and D.C. Over five years the gap is −0.2 pts.
- Which ZIP codes in South Dakota are appreciating fastest?
- Over the past year the strongest of 8 3-digit ZIP regions in South Dakota was ZIP3 577 (Rapid City, SD area) at +3.6%, and the weakest was ZIP3 570 (Brookings, SD area) at +2.3%. 6 of 8 beat the national one-year change.