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County in South Dakota

Pennington County, South Dakota

Pennington County, in South Dakota, has 113,512 residents: No. 2 of 66 by population. Pennington County has an FHA limit of $541,287 for one-unit homes. The typical home value here is $302,200. HUD's Fair Market Rent for a 2-bedroom apartment is $1,430 a month; to pay it without spending more than 30% of your income, you need to earn about $27.50 an hour.

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  • Typical home price

    $302,200

    +17% vs. South Dakota −9% vs. U.S.

    Half of owner-occupied homes are worth more and half are worth less.

    • Pennington
    • South Dakota
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

  • Fair market rent, 2 bedrooms

    $1,430 a month

    +20% vs. South Dakota −18% vs. U.S.

    HUD's reference rent for a two-bedroom apartment, with basic utilities.

    • Pennington
    • South Dakota
    • United States

    Source: HUD, Fiscal year 2027

  • FHA limit 2026, 1 unit

    $541,287

    FHA national floor limit

    The most you can borrow with an FHA loan for a one-unit home here.

    • Pennington
    • Floor
    • Ceiling

    Source: HUD, 2026 data

  • Property tax

    1.08% of value per year

    +2% vs. South Dakota +15% vs. U.S.

    $3,265 a year for the typical owner

    • Pennington
    • South Dakota
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$363,102
1.8% more than 12 months ago
Typical rent
$1,453 a month
4.2% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Data from October 2026

In short

What is housing like in Pennington County today?

The monthly payment on a typical home with FHA would be about $2,542, that is, 41% of the typical household income in Pennington County. For that payment to be 28% of income, a household would need to earn about $108,929 a year; the typical income here is $74,517. Homes here are worth 17% more than the average across South Dakota. The typical property tax is $3,265 a year (about 1.08% of home value), higher than in South Dakota.

Renting is more of a stretch than in South Dakota: 49% of renters put 30% or more of their income toward housing, against 40% statewide. There are 1 agency with HUD-approved housing counselors who speak Spanish near here.

Sources: U.S. Census Bureau (Average 2020–2024); HUD (Retrieved November 6, 2026).

Only here

What sets Pennington County apart

  1. Nearby, in Jackson County, the typical rent is $442: 61% less than in Pennington County ($1,120).

  2. Among the neighboring counties, Oglala Lakota County has the lowest typical home value ($52,900), 82% below the $302,200 in Pennington County.

  3. At $1,120, Pennington County ranks 3rd among the 65 counties in South Dakota with this figure for the highest typical rent.

  4. Pennington County has the 3rd largest share of rent-burdened renters of the 54 counties in South Dakota with this figure (49%).

  5. From 2020 to 2025, home prices in Pennington County rose 59% on FHFA's index, faster than in South Dakota (50%).

  6. Pennington County has the 5th highest typical home value of the 66 counties in South Dakota ($302,200).

Sources: U.S. Census Bureau (Average 2020–2024); FHFA (2025 data).

The homes here

Housing in Pennington County

What homes there are in Pennington County, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Pennington County, but it weighs less than in South Dakota: 62% against 67%.

Year built

By age, homes in Pennington County look like those in South Dakota: the typical year built is 1982.

By size, homes in Pennington County look like those in South Dakota: 60% have 3 bedrooms or more.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA loan limit for this county is $541,287, and about 84% of owner-occupied homes in Pennington County are worth less than that.

Monthly rent with utilities

About 73% of rented homes in Pennington County cost less than HUD's 2-bedroom fair market rent for this county ($1,430).

With a mortgage

$1,803 a month

South Dakota: $1,680 a month

Without a mortgage

$689 a month

South Dakota: $617 a month

Owners with a mortgage

59%

South Dakota: 55%

The typical cost for an owner with a mortgage in Pennington County is $1,803 a month, more than in South Dakota ($1,680); without one, $689.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Pennington County rose 61% since 2015–2019, more than in South Dakota (54%).

Since 2015–2019, the typical rent in Pennington County rose 33%, more than in South Dakota (27%).

While home values in Pennington County changed +61% and rent +33%, the typical household income rose 31%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasurePennington CountySouth DakotaUnited States
Rental vacancy 6.1%6.0%5.5%
Homeowner vacancy 1.1%0.8%0.9%
More than one person per room 1.4%2.3%3.4%
People per household 2.372.392.53
Drive alone 77%77%69%
Carpool 9%8%9%
Public transit Unreliable estimate1%3%
Walk or bike 3%3%3%
Work from home 10%10%15%
Other means 1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes

Open rentals in Pennington County look like those in South Dakota: the rental vacancy rate is 6.1%.

In Pennington County, 1.4% of households live with more than one person per room, about the same as in South Dakota.

Much as in South Dakota, a household in Pennington County has 2.37 people on average.

The car rules in Pennington County: 77% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month in Pennington County?

A typical home costs more than the typical income allows

We start with a typical home of $302,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income here, which is $74,517 a year. For that payment to be 28% of income, a household would need to earn about $108,929 a year.

Your numbers

Local data
$

Starts at the typical home value in Pennington County. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $10,577 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,542

at 7.18% · 30 years

Loan amount
$296,726
Total interest
$426,920
Paid off in
November 2056

Includes $5,103 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,739 a month

  • Tight

    $1,739 to $2,236 a month

  • Hard

    more than $2,236 a month

    Your payment · 41%

Compared with the typical household income in Pennington County ($74,517 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,542
Principal & interest$2,010
Property tax$272
Home insurance$126
FHA mortgage insurance (MIP)$134

You need at least $10,577 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

Buying a home

Buying a home in Pennington County

Here you'll see how prices have changed, how Pennington County compares with South Dakota and the country, and what you'd pay each month with four kinds of loans.

How have home prices changed?

According to the FHFA House Price Index, home prices in Pennington County rose 95% in the 10 years through 2025. FHFA's index follows the price of the same homes over the years.

Period Here South Dakota United States
In 2025 +2.5% +3.1% +2.9%
5 years (2020–2025) +59% +50% +47%
10 years (2015–2025) +95% +85% +85%
See each year's change

The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Pennington County compared with South Dakota and the United States

Home value, rent and household income, side by side. "Typical" is the median: half are above it and half below.

Typical home value
  • Pennington $302,200
  • South Dakota $257,400
  • United States $332,700
Typical rent a month
  • Pennington $1,120
  • South Dakota $946
  • United States $1,413
Typical household income a year
  • Pennington $74,517
  • South Dakota $75,081
  • United States $80,734
See the full table
Pennington compared with South Dakota and the United States
MeasureHereSouth DakotaU.S.
Residents113,512907,428334,922,499
Typical home value$302,200$257,400$332,700
Typical household income$74,517$75,081$80,734
Typical rent$1,120$946$1,413
Fair Market Rent (2 bedrooms)$1,430$1,187$1,750
Hourly wage to rent a 2-bedroom$27.50$22.83$33.65
Typical property tax$3,265$2,724$3,119
Effective tax rate1.08%1.06%0.94%
Households that own their home69%69%65%
Renters spending 30% or more on rent49%40%51%
FHA limit (1 unit)*$541,287$541,287$541,287

FHA limit: South Dakota shows the median of its counties; the United States, the national floor. Download CSV

Four ways to pay for a typical home in Pennington County

For a typical $302,200 home at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, the county's property tax, an example homeowners insurance and mortgage insurance when it applies.

Loan Monthly payment Down payment Loan amount Rate Mortgage insurance Cash to close Minimum score
FHA, 3.5% down $2,542 $10,577 $296,726 7.18% FHA MIP · $134 $19,643 580
Conventional, 5% down $2,486 $15,110 $287,090 7.18% PMI · $144 $24,176 620*
Conventional, 20% down, no PMI $2,036 $60,440 $241,760 7.18% None $69,506 620*
ITIN, 15% down (example) $2,315 $45,330 $256,870 8.18% None $54,396 Set by the lender
  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

Everything about buying in Pennington County: income, limits and help How much house can I afford? Closing costs

Loan limits

FHA loans in Pennington County use the national floor limit: it isn't a high-cost area. If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.

VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($832,750 for one unit). VA loan limits (va.gov)

USDA loans. They're for homes in eligible rural areas and households with incomes within USDA's limit. Check whether the address and your income qualify on the official site. USDA eligibility (usda.gov)

Home type FHA limit Conforming limit
1 unit $541,287 $832,750
2 units $693,050 $1,066,250
3 units $837,700 $1,288,800
4 units $1,041,125 $1,601,750

Source: HUD, 2026 data · Source: FHFA, 2026 data

Taxes and risks

Property tax and flooding in Pennington County

Two costs that change a lot from place to place and that a house payment does include: property tax and, in risk zones, flood insurance.

Property tax

In Pennington County, the typical owner pays $3,265 a year: about 1.08% of the home's value. That is close to the rest of South Dakota and more than the national average.

  • Pennington 1.08%
  • South Dakota 1.06%
  • United States 0.94%

What South Dakota publishes Owner-occupied classification (South Dakota Department of Revenue (Owner-Occupied Classification tax fact, July 2026))

Exemptions and deadlines in South Dakota

Is there a flood risk?

According to FEMA, in Pennington County 3.1% of homes (1,251) are in a high-risk flood zone. Of those homes, 16% have NFIP flood insurance.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. (44 CFR 59.1)
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. (42 U.S.C. 4012a)
  • Most homeowners insurance does not cover flood damage. (FEMA, FloodSmart)

Source: FEMA, As of August 3, 2026

Look up your address on FEMA’s map

Owning a home here

Owning a home in Pennington County

The natural hazards FEMA measures in Pennington County, a maintenance plan for your climate and what the trades earn in your area.

Risks to your home

FEMA, National Risk Index 1.20.0 (December 2025)

In Pennington County, FEMA rates the natural hazard risk as relatively low.

That rating combines the loss FEMA expects with social vulnerability and community resilience.

In Pennington County, FEMA expects natural hazards to cause $40.8 million in losses a year, counting buildings, people and crops.

Of all the hazards, FEMA expects inland flooding to do the most damage to buildings: about $16.6 million a year.

Loss FEMA expects each year to homes and buildings, by hazard
  1. Inland floodingRelatively moderate $16.6 million a year
  2. WildfireRelatively moderate $7.8 million a year
  3. TornadoRelatively low $769,976 a year
  4. EarthquakeVery low $334,639 a year
  5. Winter weatherRelatively high $253,197 a year

What it means for your home

The ratings are FEMA's own. FEMA says its data is meant for planning and does not replace a local study. Drought is not shown: FEMA counts its loss in crops only.

National Risk Index, version 1.20.0 (December 2025), retrieved November 6, 2026

FEMA notice: This product uses the Federal Emergency Management Agency's National Risk Index dataset API or downloadable datasets but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s).

Climate and upkeep

Department of Energy (PNNL), 2021 IECC zones

Pennington County is in climate zone 6A of the home energy code (IECC): cold.

The zone's number says how hot or cold it gets; the letter says how humid: A is moist, B is dry and C is marine.

  • Spring

    • Book the air conditioner's check-up before the heat: ENERGY STAR advises checking the cooling system in the spring, because contractors get busy once summer comes. ENERGY STAR (EPA)
    • Clean and repair the roof gutters. EPA

  • Summer

    • Seal the air ducts that run through the attic, crawlspace, basement or garage with duct mastic or foil tape, then wrap them in insulation. ENERGY STAR (EPA)
    • Check that the ground slopes away from the house, so water does not collect around the foundation. EPA

  • Fall

    • Book the heating check-up in the fall. If it runs on gas or oil, the technician should check the connections: faulty ones are a fire hazard. ENERGY STAR (EPA)
    • Seal air leaks and add insulation in the attic: ENERGY STAR says it lowers the chance of ice dams on the roof in snowy climates. ENERGY STAR (EPA)

  • Winter

    • Get the house ready for the cold with insulation, caulking and weather stripping, and learn how to keep pipes from freezing. Ready.gov (FEMA)
    • Put clear plastic film over the windows: it is inexpensive, cuts drafts, helps the house feel warmer in winter and reduces moisture on the glass. ENERGY STAR (EPA)

All year

  • Check the air filter every month, especially in heavy-use months. If it looks dirty, change it; change it at least every 3 months. ENERGY STAR (EPA)
  • Test the smoke alarms every month and replace their batteries at least once a year. USFA (FEMA)

Each task comes from the official page beside it. The spring air-conditioning and fall heating check-ups are the timing ENERGY STAR advises; the rest is a suggested order.

Climate zones by county, 2021 IECC

What the trades charge here

BLS, wages for May 2025

TradeTypical hourly wage8 in 10 earn between
Electricians$29.40$19.49 and $37.76
Plumbers, pipefitters and steamfitters$26.85$19.01 and $35.79
Heating, air conditioning and refrigeration mechanics$29.53$23.08 and $35.71
Roofers$22.36$16.54 and $28.96
Carpenters$23.39$18.15 and $30.48
Painters, construction and maintenance$22.55$16.75 and $31.09
Maintenance and repair workers, general$22.65$17.18 and $29.06

In the Rapid City, SD area, half of electricians earn more than $29.40 an hour and half earn less; for a plumber, the typical figure is $26.85.

These are workers' hourly wages, not the price of a job.

Need help paying for a repair?

Renting

Renting in Pennington County

The typical rent in Pennington County is $1,120 a month. HUD also publishes a “fair market rent” by unit size: it's the one programs like Section 8 use.

49% of renter households in Pennington County spend 30% or more of their income on housing. 19% spend half or more.

Fair market rent by size

To pay the fair market rent without spending more than 30% of income, working full time (40 hours a week).

Size Fair rent a month Hourly wage Income needed per year
Studio $996 $19.15 $39,840
1 bedroom $1,093 $21.02 $43,720
2 bedrooms $1,430 $27.50 $57,200
3 bedrooms $1,833 $35.25 $73,320
4 bedrooms $2,390 $45.96 $95,600

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Free help in Pennington County

Programs and counseling in Pennington County

There are 2 HUD-approved housing counseling agencies in Pennington County. They can help you get ready to buy, with your credit, with rent, or if you've fallen behind on payments.

Official programs for the down payment and loans for buyers. Check which ones you might qualify for with your income and your county.

A family roasts marshmallows over a campfire at a forest campsite.

HUD counseling is free or low-cost

South Dakota down payment programs

  1. Fixed Rate Plus

    South Dakota state authority mortgage with 3% or 5% of the loan for the down payment and closing costs, as a 0% second mortgage with no payments, repaid when you sell or pay off the home

    The source does not say whether you must be a first-time buyer. Run by South Dakota Housing Development Authority.

    Deferred Verified November 5, 2026

  2. South Dakota Housing Tax Credit (MCC)

    South Dakota state authority certificate that turns part of your mortgage interest into a credit on your federal taxes, of up to $2,000 a year while you live in the home and keep the original mortgage; for first-time buyers, requested through a participating lender before closing

    First-time buyers only. Run by South Dakota Housing Development Authority.

    Tax credit Verified November 5, 2026

Which programs do I qualify for? See all South Dakota programs

Help in Spanish in Pennington County

1 of the 2 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Public housing agencies

They run public housing and Section 8 vouchers (Housing Choice Vouchers) in this county.

  • Pennington County Housing and Redevelopment Commission Public housing and Section 8 vouchers (605) 394-5350

Free legal help

If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.

Find legal aid (lsc.gov)

Housing counseling nearby

These agencies have an office in Pennington County. The full list is on the South Dakota counselors page. Official HUD list. Confirm hours and fees with the agency before you go.

  • Black Hills Children's Ranch, Inc. - Pioneer Credit Counseling

    3620 Homestead Street, Suite 1, Rapid City · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (605) 348-1608

  • Consumer Credit Counseling Service of the Black Hills

    2310 N Maple Ave, Rapid City

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (605) 348-4550
See every agency in South Dakota

Places

Cities in Pennington County

This site has no city pages of Pennington County. The neighboring counties are below.

See all 3 cities of Pennington County

Nearby counties

Each row compares its typical value, typical rent and FHA limit with Pennington County.

Read next

Guides that help here

We picked them by this county's numbers: what weighs most here is what's worth understanding first.

Frequently asked questions

What is the FHA loan limit in Pennington County in 2026?

Pennington County has an FHA limit of $541,287 for a one-unit home. For 2 units it's $693,050, for 3 it's $837,700 and for 4 it's $1,041,125. It's the national floor limit.

What is the conforming loan limit in Pennington County?

Pennington County has a conforming limit of $832,750 for one-unit conventional loans in 2026. A bigger loan is a “jumbo” loan.

How much does a typical home cost in Pennington County?

The typical home value in Pennington County is $302,200 (Average 2020–2024, U.S. Census). Across South Dakota it's $257,400.

How much does it cost to rent in Pennington County?

Pennington County has a typical rent of $1,120 a month (Average 2020–2024, U.S. Census). HUD's fair market rent for a 2-bedroom apartment is $1,430 (Fiscal year 2027).

How much do you need to earn to rent a 2-bedroom apartment in Pennington County?

About $27.50 an hour working full time (2,080 hours a year), or $57,200 a year, so the fair market rent of $1,430 stays under 30% of income.

Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); Income Limits (Fiscal year 2026); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (As of November 5, 2026); FHFA House Price Index (2025 data); Homes with flood insurance (As of August 3, 2026); National Risk Index (2025 data); IECC climate zones by county (2021 data); Occupational Employment and Wage Statistics (2025 data); Census Bureau cartographic boundary files (2024 data).