Real Estate Relocation Guide To South Dakota

Relocating from Chicago to South Dakota is a major move. You’re crossing state lines and heading 600 miles to find a new home in a different community. By familiarizing yourself with the local real estate market, whether your destination is Sioux Falls or Rapid City you can get a good idea of the South Dakota landscape and locate the best area for you and your family.

We’ll start with the big picture… South Dakota has an estimated population of 781,900* and around 75,800 square miles of land. The total number of housing units is 352,289, of which about 216,200 are owner-occupied and 96,200 are inhabited by renters. Roughly 39,800, or 11.3 percent, of the residences in the state are vacant. The median home value in South Dakota is $112,600 and the median household income is $42,791. For an idea of how this sizes up with national averages – the median home value in the U.S. is $185,200 and the median household income is $48,451.

Statewide figures provide a good overview of South Dakota, but when you’re planning to relocate to the region, knowing what types of housing are available is the most important thing. So here’s a breakdown of what South Dakota real estate has to offer…

About 4,700 homes in South Dakota are new construction, developed in 2005 or after (another 29,900 were put up between 2000 and 2004). South Dakota has its share of vintage charm as well with 81,500 residences built prior to 1940. The total number of detached, single-family houses across the state is 241,500, and there’s also a good selection of multi-unit residences and condos. Most homes have 2 bedrooms, but size varies greatly depending on where you look. And, in case you’re wondering about how your budget will pan out in The Mount Rushmore State, monthly mortgage costs in [Alabama] generally hover between $500 and 2,000.

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*All statistics are from the 2006 American Community Survey as shown on the U.S. Census Bureau website.
Sources: factfinder.census.gov and www.city-data.com