Real Estate Investing in Springfield, South Dakota (57062)
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Should you buy in 57062 (Springfield, SD)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 18.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Springfield, SD (57062)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 57062 Springfield
The 57062 ZIP covers a section of Springfield that demands careful diligence. Prices near $203K look accessible, but the work to make a deal cash flow is real.
The investment case in 57062 is sturdy only for operators who understand what they are buying. A $203K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Stepping back, 57062 offers a low basis, the region around Springfield has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 57062 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Distressed ZIPs reward experience. substantial returns are possible in 57062, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Springfield:
Market Trends
Home Value History (with trend line)
📊 How Does 57062 Compare?
| Metric | 57062 | Springfield | South Dakota |
|---|---|---|---|
| Home Value | $202,688 | $202,688 | $311,504 |
| 5-Year CAGR | 1.6% | 1.6% | 6.8% |
| Avg Rent | $855 | $855 | - |
| Cap Rate | 3.3% | 3.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57062 (Springfield, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $202,688 |
| Monthly Rent | $855 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | +7.9% ▲ |
| 3-Year CAGR | -0.8% ▼ |
| 5-Year CAGR | +1.6% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (3.3%). 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 57062
Population: 2,531
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 57062
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
Is Springfield, SD landlord-friendly?
SD ranks as a landlord-friendly state for landlord-tenant law. Springfield generally follows the statewide framework, so landlords face reasonable operating rules.
Does Springfield, SD make sense for an investment property?
The 2.0/5 investability rating in Springfield, SD reflects its $203K prices and $855/mo rents. Investors generally consider it a solid option within SD.
What is the best play in Springfield, SD?
Springfield, SD investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($203K prices, $855/mo rents) make it a reasonable choice.
Does a duplex house hack pencil in Springfield, SD?
The a challenging house-hack environment in Springfield, SD reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Are homes affordable in Springfield, SD?
Springfield, SD home values average about $203K. That price point suits investors targeting rentals with $855/mo in monthly income.
You know 57062 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 57062 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
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