Real Estate Investing in Wessington Springs, South Dakota (57382)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57382 (Wessington Springs, SD)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.4% 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 Wessington Springs, SD (57382)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 57382 Wessington Springs
This part of Jerauld County is not an easy win. The 57382 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $837/mo on a $243K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 57382 sits below the stated 0.0% once reality is priced in.
The gap between 57382 and stronger Wessington Springs ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
From a cash-flow lens, 1,238 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.
New investors are better served looking at Wessington Springs's stable or hybrid ZIPs before stepping into 57382. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Wessington Springs:
Market Trends
Home Value History (with trend line)
📊 How Does 57382 Compare?
| Metric | 57382 | Wessington Springs | Huron, SD | South Dakota |
|---|---|---|---|---|
| Home Value | $242,886 | $242,886 | N/A | $311,504 |
| 5-Year CAGR | 3.2% | 3.2% | N/A | 6.8% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 57382 (Wessington Springs, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $242,886 |
| Monthly Rent | $837 |
| Price-to-Rent | 24.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +18.8% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +4.5% ▲ |
🏠 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 (2.7%). 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 57382
Population: 1,238
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 57382
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
Are tenants stable in Wessington Springs, SD?
Working renters make up the core of the Wessington Springs, SD tenant base. The pool is reasonable for investors targeting long-term holds.
How does Wessington Springs, SD rate as a rental market?
Wessington Springs, SD scores 3.0/5 for investability. Home values sit at $243K and rents near $837/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is rental property easy to operate in Wessington Springs, SD?
Landlord-friendliness in Wessington Springs, SD is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How much rent can I charge in Wessington Springs, SD?
Rents in Wessington Springs, SD run near $837/mo. Compared with median home prices of $243K that produces solid gross yields for typical rentals.
Is Wessington Springs, SD suited for a house hack?
For house hackers, Wessington Springs, SD is a challenging. The $837/mo rent on a unit helps defray the mortgage on a $243K property.
You know 57382 now. You don’t know where it ranks.
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Community Ratings
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