Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
•11 min read
What to Know About
Life in Wasta & Beyond
Wasta shares many of the great qualities that make South Dakota a desirable place to live.
South Dakota combines natural wonders, rich history, and irresistible charm. Dive into the state's fascinating heritage through its cultural landmarks and historical sites, such as the captivating South Dakota Cultural Heritage Center and the legendary Museum of the American Bison, or opt to further your education at world-renowned institutions such as South Dakota State University and the University of South Dakota. South Dakota's economy thrives on agriculture, tourism, and manufacturing.
Sports lovers will be in paradise with various seasonal activities such as skiing, snowboarding, and snowmobiling in the winter and golfing, camping, fishing, and hiking in the summer. Also, discover iconic attractions like the world-famous Mount Rushmore National Memorial, the awe-inspiring Dinosaur Park, the rugged Badlands National Park, the enchanting Black Hills National Forest, and the historic city of Deadwood.
With its stunning natural beauty and robust economy, South Dakota is the ideal destination for those who seek outdoor recreation and an unparalleled western experience. So get ready to be enchanted by South Dakota's irresistible charm, pristine landscapes, and unbeatable quality of life. South Dakota is an excellent place for those who want to live their best lives.
Rental Market Trends
Pennington County, SD
As of June 2026, Pennington County's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Pennington County's average rent is 8.1% ($90) higher than the South Dakota average of $1,108 and 33.3% ($599) lower than the U.S. average of $1,797.
Average Rent
$1,198
Monthly ChangeMonth Over Month Change
2.7% ($33)
Yearly ChangeYear Over Year Change
1.6% ($19)
Avg. Days on MarketAverage Days on Market
29
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,042 | 1.3% ($14) | 4.5% ($45) |
| 2 Beds | $1,208 | 2.7% ($33) | 1.4% ($17) |
| 3 Beds | $1,400 | 1.1% ($16) | 7.8% ($119) |
| Cities within Pennington County | Average Rent | Avg. Rent vs. PenningtonAverage Rent vs. Pennington County | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Rapid City | $1,195 | 0.3% ($3) | 29 days |
| Box Elder | $1,342 | 12% ($144) | 33 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Pennington County Rental Market FAQs
Explore rental prices, market trends, and availability in Pennington County, SD.
The average rent in Pennington County, SD is $1,198 per month.
Homes in Pennington County typically rent for between $729 and $1,820 per month, with an average of $1,198 per month.
In Pennington County, the average rent for a 1-bedroom home is $1,042 per month, for a 2-bedroom home, $1,208 per month, and a 3-bedroom home is $1,400 per month.
The average rent in Pennington County is 33.3% ($599) lower than the national average of $1,797 per month.
The average rent in Pennington County has decreased by 2.7% ($33) in the last month and decreased by 1.6% ($19) over the past year.
The rental market in Pennington County, SD, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Pennington County, SD, the average rental stays on the market for approximately 29 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 71 rental properties available in Pennington County, SD.
Based on the current averages, a household would need an annual income of $48,320 to comfortably afford a 2-bedroom home in Pennington County.
