Brookings, SD Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Brookings, SD Housing Market Trends

With 24,415 people, 8,741 houses or apartments, and a median cost of homes of $186,325, Brookings real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Brookings, accounting for 47.16% of the city's housing units. Other types of housing that are prevalent in Brookings include large apartment complexes or high rise apartments ( 31.91%), mobile homes or trailers ( 7.40%), and a few row houses and other attached homes ( 7.15%).

People in Brookings primarily live in small (one, two or no bedroom) single-family detached homes. Brookings has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Brookings built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Brookings built between 2000 and later ( 29.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.32%). There's also some housing in Brookings built before 1939 ( 11.99%).

Vacant housing appears to be an issue in Brookings. Fully 11.59% of the housing stock is classified as vacant. Left unchecked, vacant Brookings homes and apartments can be a drag on the real estate market, holding Brookings real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Brookings Home Appreciation Rates

Real estate appreciation rates in Brookings's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.94% during the period.

Over the last year, Brookings appreciation rates have trailed the rest of the nation. In the last twelve months, Brookings's appreciation rate has been 7.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Brookings were at 2.12%, which equates to an annual appreciation rate of 8.75%.

Relative to South Dakota, our data show that Brookings's latest annual appreciation rate is lower than 60% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$186,325

Brookings, SD HOME PRICES

> $1,206,000
0.1%
0.1%
$905,001 - $1,206,000
0.2%
0.2%
$604,001 - $905,000
2.2%
2.2%
$483,001 - $604,000
2.7%
2.7%
$362,001 - $483,000
6.3%
6.3%
$241,001 - $362,000
19.8%
19.8%
$121,001 - $241,000
47.7%
47.7%
$60,001 - $121,000
12.8%
12.8%
$0 - $60,000
8.3%
8.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for SD

Value Relative To Nation

Number Of Homes And Apartments:
8,741

Brookings Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
80.51% 2.79%
1
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,028 / per month

Homeownership Rate

Owners
41.7%
41.7%
Renters
58.3%
58.3%
Vacant
11.6%
11.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
29.7%
29.7%
1970 - 1999
41.0%
41.0%
1940 - 1969
17.3%
17.3%
1939 or Older
12.0%
12.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
47.2%
47.2%
Townhomes
7.2%
7.2%
Small Apt. Buildings
6.4%
6.4%
Apt. Complexes
31.9%
31.9%
Mobile Homes
7.4%
7.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
13.7%
13.7%
2 Bedrooms
31.2%
31.2%
3 Bedrooms
23.7%
23.7%
4 Bedrooms
19.1%
19.1%
5 or more bedrooms
9.9%
9.9%
0.0% 100.0%
% OF HOMES

Popular Communities Near Brookings, SD

Zip Codes in Brookings, SD