Real Estate Investing in Dell Rapids, South Dakota (57022)
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Should you buy in 57022 (Dell Rapids, SD)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 32.2 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Dell Rapids, SD (57022)?
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Market Analysis: 57022 Dell Rapids
This part of Minnehaha County is not an easy win. The 57022 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 57022 can be a a strong candidate for hunting ground — but the discount at $379K reflects genuine risk that outside investors often underestimate.
In practical terms, 57022 offers a low basis, the region around Dell Rapids has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
From a cash-flow lens, 5,476 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 57022 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Dell Rapids:
Property Strategy for 57022
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $248,172 | $1,090 | 3.2% | +7.5% | $124,086 |
| 3BR | $308,642 | $1,490 | 3.5% | +7.6% | $102,881 |
| 4BR | $389,798 | $1,820 | 3.4% | +7.6% | $97,450 |
| 5BR | $553,140 | — | — | — | $110,628 |
Market Trends
Home Value History (with trend line)
📊 How Does 57022 Compare?
| Metric | 57022 | Dell Rapids | Sioux Falls, SD | South Dakota |
|---|---|---|---|---|
| Home Value | $378,611 | $378,611 | N/A | $311,504 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.8% |
| Avg Rent | $981 | $981 | N/A | - |
| Cap Rate | 2.0% | 2.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57022 (Dell Rapids, SD). Anonymous, moderated, never written by AI.
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Property managers serving Minnehaha County
Manage rentals here? List your business →Costello Companies offers apartments and townhomes in South Dakota. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $378,611 |
| Monthly Rent | $981 |
| Price-to-Rent | 32.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 57022
Population: 5,476
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 57022
Schools in This ZIP Code
About Repit School Scores
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We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
How much is rent in Dell Rapids, SD?
Dell Rapids, SD rentals go for roughly $981/mo a month. That puts gross yield in solid territory relative to $379K acquisition costs.
Is vacancy a concern in Dell Rapids, SD?
Rental vacancy in Dell Rapids, SD is elevated. Investors should budget normal turnover but not chronic empty units.
Should investors consider Dell Rapids, SD?
The 3.0/5 investability rating in Dell Rapids, SD reflects its $379K prices and $981/mo rents. Investors generally consider it a solid option within SD.
Is Dell Rapids, SD landlord-friendly?
SD ranks as a landlord-friendly state for landlord-tenant law. Dell Rapids generally follows the statewide framework, so landlords face reasonable operating rules.
Is Dell Rapids, SD better for rentals, flips, or BRRRR?
Dell Rapids, SD investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($379K prices, $981/mo rents) make it a reasonable choice.
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How 57022 ranks in Sioux Falls, SD
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