Rental numbers for Pennington County, SD
The typical home here runs -$1,456 a month at 7.78% with 25% down. 0 of 3 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 5.3%.
- Gross yield
- 4.9%
- typical home, Zillow
- Median ZIP yield
- 5.3%
- 3 ZIPs with full data
- Cash flow
- -$1,456/mo
- at 7.78%, 25% down
- Typical price
- $364,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,482/mo
- Zillow ZORI, Aug 2026
ZIP codes in Pennington County
7 with published figures
| 57701Rapid City | $301,000 | $1,429 | 5.7% | 2.3% | -$1,058 | +5.8% |
| 57703Rapid City | $359,000 | $1,582 | 5.3% | 2.0% | -$1,325 | +5.2% |
| 57702Rapid City | $452,000 | $1,495 | 4.0% | 0.9% | -$2,081 | +4.4% |
| 57790Wall | $315,000 | $1,010* | 3.9% | 0.8% | -$1,488 | n/a |
| 57745Hill City | $482,000 | $1,300* | 3.2% | 0.4% | -$2,434 | n/a |
| 57761New Underwood | $426,000 | $1,060* | 3.0% | 0.2% | -$2,220 | n/a |
| 57751Keystone | $532,000 | $1,010* | 2.3% | -0.3% | -$2,978 | n/a |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +1.9%
- Rent, 12 months
- +4.6%
- Rent minus price growth
- +2.7 pts
- Property tax
- 1.08%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $284,478 | $1,150 |
| Aug 2022 | $335,890 | $1,375 |
| Aug 2023 | $342,098 | $1,343 |
| Aug 2024 | $348,452 | $1,398 |
| Aug 2025 | $356,899 | $1,417 |
| Aug 2026 | $363,679 | $1,482 |
HUD Fair Market Rent
FY2027, Rapid City, SD HUD Metro FMR Area
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $996 | $1,093 | $1,430 | $1,833 | $2,390 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 13.3
- 616 units, last 12 months
- National percentile
- 80th
- among US counties
Tools
Test a listing in Pennington County against today's rate.
Open the calculatorPart of the Rapid City, SD metro.
Questions
- Is Pennington County good for rental property?
- The typical home here runs -$1,456 a month at 7.78% with 25% down. 0 of 3 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 5.3%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Pennington County?
- About 1.08% of value, from Census ACS median taxes paid over median home value. On a $364,000 home that is about $3,928 a year.
- What is Fair Market Rent in Pennington County?
- HUD's FY2027 Fair Market Rent here is $1,093 for a 1-bedroom, $1,430 for a 2-bedroom and $1,833 for a 3-bedroom. Typical cash flow at today's rate is -$1,456 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.