Vermillion, 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

Vermillion, SD Housing Market Trends

With 10,926 people, 3,895 houses or apartments, and a median cost of homes of $152,400, house prices in Vermillion are solidly below the national average.

Single-family detached homes are the single most common housing type in Vermillion, accounting for 50.94% of the city's housing units. Other types of housing that are prevalent in Vermillion include large apartment complexes or high rise apartments ( 22.49%), duplexes, homes converted to apartments or other small apartment buildings ( 11.61%), and a few mobile homes or trailers ( 11.45%).

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

There is a lot of housing in Vermillion 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 Vermillion built between 1940-1969 ( 23.17%). A lesser amount of the housing stock also hails from before 1939 ( 18.83%). There's also some housing in Vermillion built between 2000 and later ( 17.54%).

Vacant housing appears to be an issue in Vermillion. Fully 11.86% of the housing stock is classified as vacant. Left unchecked, vacant Vermillion homes and apartments can be a drag on the real estate market, holding Vermillion 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.

Vermillion Home Appreciation Rates

Real estate appreciation rates in Vermillion's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.39% during the period.

Over the last year, Vermillion appreciation rates have trailed the rest of the nation. In the last twelve months, Vermillion's appreciation rate has been 6.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Vermillion were at 2.10%, which equates to an annual appreciation rate of 8.67%.

Relative to South Dakota, our data show that Vermillion's latest annual appreciation rate is lower than 80% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$152,400

Vermillion, SD HOME PRICES

> $1,162,000
0.0%
0.0%
$872,001 - $1,162,000
0.0%
0.0%
$581,001 - $872,000
2.7%
2.7%
$464,001 - $581,000
0.6%
0.6%
$348,001 - $464,000
6.9%
6.9%
$233,001 - $348,000
23.1%
23.1%
$116,001 - $233,000
49.4%
49.4%
$58,001 - $116,000
7.2%
7.2%
$0 - $58,000
10.1%
10.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for SD

Value Relative To Nation

Number Of Homes And Apartments:
3,895

Vermillion 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
83.57% 2.87%
2
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,038 / per month

Homeownership Rate

Owners
35.3%
35.3%
Renters
64.7%
64.7%
Vacant
11.9%
11.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.5%
17.5%
1970 - 1999
40.5%
40.5%
1940 - 1969
23.2%
23.2%
1939 or Older
18.8%
18.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
50.9%
50.9%
Townhomes
3.5%
3.5%
Small Apt. Buildings
11.6%
11.6%
Apt. Complexes
22.5%
22.5%
Mobile Homes
11.5%
11.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.7%
2.7%
1 Bedroom
13.2%
13.2%
2 Bedrooms
30.4%
30.4%
3 Bedrooms
25.6%
25.6%
4 Bedrooms
19.8%
19.8%
5 or more bedrooms
8.3%
8.3%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Vermillion

Popular Communities Near Vermillion, SD

Zip Codes in Vermillion, SD