Real Estate Investing in Spearfish, South Dakota (57783)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57783 (Spearfish, 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.
- Elevated vacancy: 11.6% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 28.0 — hard to cash-flow at these prices.
What’s happening in Spearfish, SD (57783)?
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Market Analysis: 57783 Spearfish
Turning to rents, ZIP 57783 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $460K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $460K asset, 57783 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 57783 and stronger Spearfish ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
From a cash-flow lens, 16,929 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.
Strategically, 57783 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Spearfish:
Property Strategy for 57783
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $317,778 | $1,080 | 2.4% | +8.6% | $158,889 |
| 3BR | $444,661 | $1,500 | 2.4% | +8.4% | $148,220 |
| 4BR | $504,021 | $1,810 | 2.6% | +8.5% | $126,005 |
| 5BR | $648,555 | — | — | +8.5% | $129,711 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 57783 Compare?
| Metric | 57783 | Spearfish | Spearfish, SD | South Dakota |
|---|---|---|---|---|
| Home Value | $459,739 | $229,870 | N/A | $311,504 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 6.8% |
| Avg Rent | $1,370 | $1,370 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
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 57783 (Spearfish, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $459,739 |
| Monthly Rent | $1,370 |
| Price-to-Rent | 28.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +0.9% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +5.8% ▲ |
🏠 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 (2.3%). 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 57783
Population: 16,929
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 57783
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How much is rent in Spearfish, SD?
Rents in Spearfish, SD run near $1,370/mo. Compared with median home prices of $460K that produces solid gross yields for typical rentals.
How do experienced investors play Spearfish, SD?
The best-fit strategy in Spearfish, SD is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What kind of market is Spearfish, SD for investors?
Investors tracking Spearfish, SD will find a 3.0/5 rating supported by $460K median home values and $1,370/mo rents. That profile suits long-term holders targeting even-keeled returns.
How high is vacancy risk in Spearfish, SD?
Vacancy risk in Spearfish, SD is elevated. That supports predictable cash flow for typical rental holds.
Is it easy to find good tenants in Spearfish, SD?
Tenant demand in Spearfish, SD is solid. The local workforce $1,370/mo rents across most rental classes.
You know 57783 now. You don’t know where it ranks.
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Community Ratings
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