Home Values in Pierre, South Dakota — 2026 Market Report
Updated March 2026 | Seller's Market | +3.9% YoY
The median home value in Pierre, South Dakota is $235,000 as of March 2026, which is below the national median of $400,000. Home values in Pierre have increased by 3.9% over the past year and 21.1% over the last five years. With a population of 14,091 and a median household income of $55,250, the price-to-income ratio stands at 4.3x, making Pierre affordable for the average household.
Pierre Housing Market Conditions
| Metric | Pierre | National Avg |
|---|---|---|
| Median Home Value | $235,000 | $400,000 |
| YoY Appreciation | +3.9% | +3.8% |
| 5-Year Appreciation | +21.1% | +22.4% |
| Price per Sq Ft | $77 | $222 |
| Days on Market | 44 days | 45 days |
| Months of Supply | 2.4 | 3.5 |
| List-to-Sale Ratio | 97.2% | 98.5% |
| Monthly Homes Sold | 12 | — |
| Foreclosure Rate | 0.26% | 0.3% |
Home Value Trends in Pierre
A homeowner who purchased at the median price of $194,055 five years ago in Pierre would have gained approximately $40,945 in equity, representing a 21.1% return on investment. Over the past year alone, the typical homeowner gained $8,821 in home equity.
Affordability in Pierre, SD
With a median household income of $55,250 and a median home price of $235,000, the price-to-income ratio in Pierre is 4.3x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,620 compared to estimated monthly ownership costs of $1,355 gives a rent-vs-buy ratio of 0.84. In Pierre, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Pierre
The effective property tax rate in South Dakota is 1.22%. On a home valued at $235,000, the estimated annual property tax bill is $2,867, or approximately $239/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Pierre is 87.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Pierre, SD?
The median home value in Pierre, South Dakota is $235,000 as of March 2026. Home values have changed +3.9% over the past year, with a 5-year appreciation of 21.1%.
Is Pierre a buyer's or seller's market?
Pierre is currently a seller's market with 2.4 months of housing supply. Homes spend an average of 44 days on market, and the list-to-sale price ratio is 97.2%. Low inventory gives sellers an advantage.
Are home values going up in Pierre?
Yes, home values in Pierre have increased by 3.9% over the past year. The 5-year appreciation rate is 21.1%, meaning a home worth $194,055 five years ago is now worth $235,000.
Is it better to rent or buy in Pierre?
The average monthly rent in Pierre is $1,620, while estimated monthly homeownership costs are approximately $1,355. The price-to-rent ratio is 12.1. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other South Dakota Cities
Related Resources
Disclaimer: Home value data for Pierre, South Dakota is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.