Real Estate Investing in Freeman, South Dakota (57029)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57029 (Freeman, SD)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.4% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 25.3 — 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 Freeman, SD (57029)?
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Market Analysis: 57029 Freeman
The 57029 ZIP in Freeman, SD is a local-operator market. Outside capital chasing a $254K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 57029 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within SD, ZIP 57029 trails on several market indicators that neighboring Hutchinson County submarkets outperform. The gap is real and significant enough to shape underwriting.
The demographic picture in 57029 includes headwinds that any investor should price in. Income distribution skews lower than Freeman averages, and tenant stability requires active management.
The 57029 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Freeman:
Market Trends
Home Value History (with trend line)
📊 How Does 57029 Compare?
| Metric | 57029 | Freeman | Sioux Falls, SD | South Dakota |
|---|---|---|---|---|
| Home Value | $254,487 | $254,487 | N/A | $311,504 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 6.8% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57029 (Freeman, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $254,487 |
| Monthly Rent | $837 |
| Price-to-Rent | 25.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +10.4% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (2.6%). 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 57029
Population: 2,317
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 57029
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
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 should investors approach Freeman, SD?
In Freeman, SD the notable play is typically careful cash-flow rentals with hands-on management. The combination of $254K prices and $837/mo rents suits that approach.
How qualified is the tenant pool in Freeman, SD?
The tenant pool in Freeman, SD is solid, supported by local employment and population fundamentals. Rents of $837/mo are well-absorbed by the market.
How do home values compare in Freeman, SD?
In Freeman, SD the median home value sits at $254K. Against the broader SD market, that reads as reasonable for most investors.
What kind of market is Freeman, SD for investors?
Investors tracking Freeman, SD will find a 3.0/5 rating supported by $254K median home values and $837/mo rents. That profile suits long-term holders targeting steady returns.
How much do tenants pay in Freeman, SD?
Expect rents around $837/mo per month in Freeman, SD. With home values at $254K, the yield math works out to reasonable levels for rental investors.
You know 57029 now. You don’t know where it ranks.
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