Real Estate Investing in Florence, South Dakota (57235)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57235 (Florence, SD)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Elevated vacancy: 10.6% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 48.1 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Florence, SD (57235)?
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Market Analysis: 57235 Florence
ZIP 57235 in Florence, SD carries a resilient set of headwinds. Home values near $525K and rents of $909/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $525K asset, 57235 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 57235's metrics run below Codington County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A impressive renter share of 11% in 57235 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 57235 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 Florence:
Market Trends
Home Value History (with trend line)
📊 How Does 57235 Compare?
| Metric | 57235 | Florence | Watertown, SD | South Dakota |
|---|---|---|---|---|
| Home Value | $524,853 | $524,853 | N/A | $311,504 |
| 5-Year CAGR | N/A | N/A | N/A | 6.8% |
| Avg Rent | $909 | $909 | N/A | - |
| Cap Rate | 1.4% | 1.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57235 (Florence, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $524,853 |
| Monthly Rent | $909 |
| Price-to-Rent | 48.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.1% |
| Cap Rate | 1.4% |
| 5-Year IRR | 1.4% |
📈 Home Appreciation
| 1-Year | +3.8% ▲ |
| 3-Year CAGR | +0.0% ▲ |
| 5-Year CAGR | N/A |
| 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 (1.4%). 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 57235
Population: 796
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 57235
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 expensive is real estate in Florence, SD?
Homes in Florence, SD typically sell near $525K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
Where do rents currently stand in Florence, SD?
Rent in Florence, SD is around $909/mo. The resulting rent-to-value relationship with $525K pricing is reasonable for most investor models.
What is the renter demographic in Florence, SD?
The renter base in Florence, SD is reasonable for the $909/mo price point. Screening well and pricing to market typically yields measured tenants.
Is Florence, SD landlord-friendly?
The landlord environment in Florence, SD is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What are vacancy rates like in Florence, SD?
Florence, SD carries elevated vacancy risk. Expect even-keeled absorption at market rents of $909/mo.
You know 57235 now. You don’t know where it ranks.
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