South Dakota Real Estate and Livability Trends
South Dakota's real estate market is revealing some intriguing economic signals. Average taxable income per tax return has nearly doubled in nine years, jumping from $57,889.02 in 2013 to $87,760.33 in 2021, suggesting a more affluent population potentially interested in higher-value properties. Median home values have surged from $140,500 in 2015 to $219,500 in 2022, highlighting a strong... Read more
South Dakota Market Trends
South Dakota's median home values have surged from $140,500 in 2015 to $219,500 in 2022, outpacing the national increase. This rapid appreciation might indicate strong future returns for investors but could mean higher entry costs for prospective homeowners. Residential energy tax credits have fluctuated, peaking at an average of $2,372.97 in 2018 before declining to $762.95 in 2021, possibly... Read more
Median Value of Occupied Housing Units in South Dakota Over the Last 8 Years
South Dakota's median home values have risen significantly over the past eight years, from $140,500 in 2015 to $219,500 in 2022. This outpaces the national trend, where the median value increased from $125,500 to $179,400 over the same period. For those looking to invest, this rapid appreciation in South Dakota might indicate strong future returns, while potential homeowners could face increasingly higher entry costs.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in South Dakota over the last 10 years
Active Loans 30-60 Days Past Due in South Dakota over the last 10 years in South Dakota
Perent of loans that are Active Loans 90-180 Days Past Due in South Dakota over the last 10 years in South Dakota
Residential Energy Tax Credit Per Tax Return in South Dakota Over the Last 9 Years
In South Dakota, residential energy tax credits per tax return have shown considerable fluctuation over the past nine years. Notably, there was a significant spike in 2018, with an average credit amount of $2,372.97. This peak was followed by a gradual decline, settling around $762.95 in 2021. Such volatility might suggest varying levels of investment in energy-efficient home improvements, influenced possibly by changing policies or economic conditions. For real estate agents and appraisers, it's worth considering how these incentives can impact property values and buyer interest in energy-efficient homes. For investors and builders, understanding this trend could help in strategizing developments that capitalize on these credits.
Average Real Estate Taxes Per Tax Return in South Dakota Over the Last 10 Years
In South Dakota, the average real estate taxes per tax return have shown a consistent upward trend over the past decade, rising from around $3,475.73 in 2012 to approximately $6,613.49 in 2021. This marked increase could reflect rising property values, increased demand, and possibly changing local fiscal policies. As real estate taxes can impact overall housing affordability and investment returns, understanding these trends might be crucial for potential investors, homeowners, and real estate professionals considering activities in this region.
Percentage of Farm Returns in South Dakota Over the Last 10 Years
The percentage of farm tax returns in South Dakota has shown a somewhat declining trend over the past decade, moving from approximately 7.67% in 2012 to around 6.80% in 2021. Farm tax returns are relevant as they often reflect the financial viability and operational scale of farms, which can indirectly affect local land value, economic stability, and investment prospects. This decrease suggests potential consolidation or varying profitability within the agricultural sector, serving as a key indicator for stakeholders considering investment, development, or relocation to the area.
Economic Outlook
South Dakota's average taxable income per tax return has nearly doubled over nine years, jumping from $57,889.02 in 2013 to $87,760.33 in 2021, with notable spikes in 2018 and 2021. Concurrently, state and local income taxes have seen wild fluctuations, peaking at $21,391.40 in 2019 but slightly falling to $20,372.48 by 2021. The average total tax liability per tax return has also increased significantly, hitting $15,311.65 in 2021. These trends hint at an evolving economic landscape, which... Read more
Average Taxable Income per Tax Return in South Dakota over the last 9 years
Over the past nine years, South Dakota has seen a notable increase in average taxable income per tax return, beginning at $57,889.02 in 2013 and reaching $87,760.33 in 2021. This steady growth, particularly the significant jumps in 2018 and 2021, could attract investor attention due to the region's positive economic trajectory. This trend holds potential importance for real estate agents, insurance agents, and those looking to build property, signifying a strong local economy that may support higher property values and potential returns on investments.
Average State and Local Income Taxes Per Tax Return in South Dakota Over the Last 10 Years
Over the past decade, South Dakota's average state and local income taxes per tax return have seen significant fluctuations, with steep increases particularly noticeable from 2017 onwards. The value jumped from $9,073.57 in 2015 to $11,264.69 in 2017, culminating at $21,391.40 in 2019 before slightly dipping to $20,372.48 in 2021. This upward trend may suggest a changing economic landscape, potentially offering insights for investors and real estate agents about growing economic activities and the possible implications on property values.
Average Total Tax Liability Per Tax Return in South Dakota Over the Last 10 Years
In South Dakota, the average total tax liability per tax return has seen a notable increase over the last 10 years. Starting at around $10,355.32 in 2012, it fluctuated slightly before experiencing a sharp rise to $11,490.99 in 2014. The average surged significantly by 2020, reaching $12,841.05, and showed a dramatic spike to $15,311.65 in 2021. These trends could suggest economic growth, changes in tax policy, or fluctuations in income levels, which might interest potential investors, real estate agents, and insurance professionals assessing the financial landscape of the state.
Cost of Living in South Dakota
Safety trends & Data
Over the past five years, South Dakota has seen fluctuations in property crime trends. Arson incidents peaked at 394 cases in 2020, and fraud numbers, though high in 2018 at 2,347 cases, decreased to 920 in 2021. While burglary and motor vehicle thefts show sporadic variations, vandalism remains steady around 500 cases annually. Embezzlement reached its highest at 166 incidents in 2019, while forgery consistently recorded significant counts. These patterns provide valuable insights into... Read more
Property Crime Trends in South Dakota Over the Last 5 Years
Over the past five years, South Dakota has shown varied trends in property crimes. Arson incidents fluctuate, reaching a peak of 394 cases in 2020. Fraud consistently maintains high numbers, peaking at 2,347 cases in 2018 but seeing a notable decline to 920 in 2021. Burglary and motor vehicle thefts are relatively low compared to other crimes but show sporadic variations. Vandalism remains a persistent issue, with figures hovering around the 500 mark annually. Embezzlement and forgery also present notable trends with embezzlement peaking at 166 incidents in 2019 and forgery reflecting significant counts across the years. These patterns can aid potential investors, real estate agents, and residents in evaluating the property risk landscape in South Dakota.
Demographics
South Dakota's demographic trends subtly indicate a relatively balanced gender population and a diverse age distribution with a significant portion of the population in their prime working years. Educational attainment highlights a majority being high school graduates, though a notable number pursue higher education. The state's racial makeup reflects a predominantly White population, yet there's a considerable representation of American Indian and Alaska Native peoples. These aspects might... Read more
Race Distribution in South Dakota (2022)
Educational Attainment in South Dakota (2022)
Age Distribution in South Dakota
Citizen Population in South Dakota (2022)
Political Trends & Data
South Dakota's real estate market could be indirectly influenced by the state's political leanings, where over 61% of votes favored Republicans in 2020. This political climate might appeal to buyers prioritizing conservative values, potentially impacting property demand and development trends. Additionally, the modest 2.6% vote for Libertarians may suggest some niche market opportunities for alternative housing models or... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
South Dakota's 2020 voting patterns possibly indicate a strong leaning towards Republican preferences with over 61% of the vote, compared to around 35.6% for Democrats. Libertarians secured a modest share at approximately 2.6%. These figures might reflect South Dakota's political landscape, potentially reinforcing its reputation as a predominantly Republican state.
61.77% of voters voted for the Republican party in the 2020 Presidential Election
35.61% of voters voted for the Democrat party in the 2020 Presidential Election
2.63% of voters voted for the Libertarian party in the 2020 Presidential Election
School Data
South Dakota's student-to-teacher ratio has swung notably, with lows like twelve students per teacher in 2017 and a spike to over fifteen in 2021, outpacing the national average of fourteen. This variability is a key consideration for investors and developers, as lower ratios often mean more personalized instruction, potentially increasing property values in well-rated school districts. On the flip side, higher ratios may indicate resource constraints in education, which could negatively impact... Read more
Student-to-teacher ratio in South Dakota over the last 10 years
South Dakota's student-to-teacher ratio has fluctuated over the past decade, with notable highs and lows. From 2014 to 2017, the ratio generally trended downward, hitting a low of twelve students per teacher in 2017. However, 2021 saw a spike to over fifteen, significantly higher than the national average of fourteen. This variability could serve as a crucial consideration for potential investors, developers, and residents. Lower ratios typically suggest more personalized instruction, which could enhance property values and demand in areas with better schools. Conversely, higher ratios may flag potential resource constraints in the education system, impacting perceptions of local school quality and, subsequently, real estate market dynamics.
