Real Estate Investing in Codington County, South Dakota

Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.

3 ZIP codes • Population: 27,659

Should you buy in Codington County, SD? Our answer, based on the numbers below.

🏠 For Homebuyers
CAUTION
Grade D (49/100)

Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.

πŸ“ˆ For Investors
WEAK
2.3 / 5 (38/100)

A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.

⚠️ Risks to Know
CLEAN

No major risk flags on the data we track.

What’s happening in Codington County, SD?

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2.3/ 5

Investability

County-wide average

3.0/ 5

Appreciation

4.4% 5yr CAGR

5.0/ 5

Landlord Climate

Regulatory friendliness

Avg Investability β˜…β˜…β˜…β˜…β˜…
Avg Home Value $469,592
Avg Monthly Rent $984
ZIP Codes 3

Investing in Codington County Real Estate

Codington County (SD) covers 3 ZIPs and 3 municipalities. decisively the fundamentals here skew distressed, and both rent and price trends have been sluggish across most of the geography.

unambiguously Codington County's β˜…β˜…β˜†β˜†β˜† aggregate rating reflects muted investor metrics across the board β€” soft rent growth, soft appreciation, and structural headwinds worth taking seriously.

Distressed-leaning demographics in Codington β€” soft income growth, high rent burden, population shifts β€” are among the reasons the β˜…β˜…β˜†β˜†β˜† rating sits where it does.

A great house in the wrong ZIP is still a bad deal — screen every market by cash flow & cap rate.
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Landlord Ground Truth

Real numbers from people who own or manage rentals in Codington County, SD. Anonymous, moderated, never written by AI.

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Avg Home Value
$469,592
Avg Monthly Rent
$984
1% Rule
βœ— Below
Landlord Friendly (SD)
β˜…β˜…β˜…β˜…β˜…

πŸ“‰ Market Crash Risk Index

Based on Watertown, SD metro

1/10
Low Risk
Price YoY
0/3
N/A
Rent YoY
0/2
N/A
Below List
1/3
54%
Days Pending
0/2
0 days

View all metro crash risk rankings β†’

πŸŽ“ Colleges & Universities in Codington County

1 College 2,179 Students 1,895 Off-Campus Renters
C
Lake Area Technical College
2-Year Public Β· 2,179 students
πŸ“ ~1,895 students rent off-campus

Investor Insight: With 1,895 students living off-campus, Codington County has substantial rental demand from the college population β€” typically stable, lease-renewing tenants.

Cities in Codington County

ZIP Codes in Codington County, SD

Screen every market in Codington County

Filter this county’s ZIPs by cap rate, vacancy, appreciation and 30+ more criteria, and export your shortlist to CSV — with the Investor plan ($19/mo). Add weekly alerts when these markets move with Investor Pro+.

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Frequently Asked Questions About Codington County

Where do home prices stand in, SD?

Expect median prices around $470K in, SD. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.

What investment strategy works best in, SD?

Investors usually favor careful cash-flow rentals with hands-on management in, SD. With home values at $470K and rents near $984/mo, other strategies can work but produce consistent rather than outsized returns.

How strong is tenant demand in, SD?

Expect a solid tenant pool in, SD. The rental market absorbs $984/mo rents without meaningful friction.

How tight is the rental market in, SD?

Vacancy in, SD is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $984/mo.

Community Ratings

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