Cost of Living in Pennington County, South Dakota

$1,066/mo

Median Monthly Rent

$270,400

Median Home Value

41% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,066/mo

41% above state average

Median Home Value

$270,400

4% below national

Rent-to-Income Ratio

29.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Pennington County Compares

Median monthly rent comparison

Pennington County$1,066/mo

South Dakota Average$756/mo

National Median$1,163/mo

Detailed Housing Stats

$1,066/mo

Median Gross Rent

$270,400

Median Home Value

$1,241/mo

Monthly Owner Cost

29.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Pennington County, South Dakota

Pennington rents rank high nationally, regionally

At 18.1% of median household income, Pennington County's rent-to-income ratio significantly exceeds the national average and reflects high housing demand in the Rapid City area. Despite a median household income of $70,768, residents are spending considerably more on rent than typical American households.

Second-priciest rental market in South Dakota

Pennington County's 18.1% rent-to-income ratio trails only Oglala Lakota County among the eight South Dakota counties examined, with median rent of $1,066 the highest in this comparison. The county ranks as South Dakota's second-most expensive rental market, driven by Rapid City's popularity and limited housing stock.

Rapid City premium rivals Sioux Falls market

Pennington's $1,066 median rent narrowly exceeds Minnehaha County's $954, making Rapid City competitively priced with Sioux Falls despite lower median income ($70,768 versus $76,074). This pricing power reflects tourism, outdoor recreation appeal, and constrained housing availability in the Black Hills region.

Both housing types strain median household budget

Renters pay $1,066 monthly while homeowners average $1,241—a 16% premium reflecting median home values of $270,400. Combined with lower median income than Minnehaha, housing costs consume roughly 18-20% of income for typical Pennington households, above comfortable thresholds.

Rapid City charm carries urban price tag

Pennington County attracts residents seeking mountain access and outdoor lifestyle, but plan for housing costs competitive with larger urban centers despite smaller local economy. If affordability matters, compare Moody County's $723 rents; if you love the Black Hills, budget accordingly for premium pricing.

Affordability Calculator

See how your income compares to housing costs in Pennington County

Your Annual Household Income

Rent Burden

18.1%

of gross income

Max Housing (28% Rule)

$1,651

per month

Owner Cost Burden

21.0%

of gross income

The median home in Pennington County may be a stretch

Median home value is $270,400. Estimated monthly cost: $2,159 vs. your max of $1,651.

Rent Affordability Guide

Your rent-to-income ratio18.1%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Pennington County, South Dakota?

Pennington County, South Dakota has a median monthly rent of $1,066/mo and a median home value of $270,400. The affordability rating is Unaffordable, with rent making up approximately 29.0% of median household income.

What is the median rent in Pennington County?

The median gross rent in Pennington County is $1,066/mo. This is 41% above state average for South Dakota.

Is Pennington County affordable?

Pennington County is rated Unaffordable based on rent-to-income ratio of 29.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Pennington County's rent compare to the state average?

Pennington County's median rent of $1,066/mo is 41% above state average of $756/mo for South Dakota.

What is the median home value in Pennington County?

The median home value in Pennington County, South Dakota is $270,400. This is 4% below the national median home value of $281,900.