The story of this market
The typical home in ZIP 57231 sells for about $173,600, or $115 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $725 a month.
ZIP 57231 — De Smet
The housing market in 57231 remains stable with low inventory and modest price appreciation consistent with rural South Dakota trends. Demand is driven by local residents and those seeking affordable, small-town living, resulting in a balanced market with limited turnover.
This ZIP is best suited for families and individuals seeking a quiet, affordable rural lifestyle, as well as those with ties to the local agricultural economy.
Median prices moved up 2.1% year over year.
Homes spend a median of 87 days on market with 6.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 8.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 57231, Kingsbury County SD
Crime rates in De Smet are significantly lower than the national average, with the area experiencing very low levels of violent and property crime typical of rural South Dakota communities.
The area is served by the De Smet School District, which is generally regarded as providing a stable, community-focused educational environment with small class sizes.
The region faces moderate risks from severe thunderstorms and winter weather, with standard flood risks primarily confined to low-lying areas near local creeks.
Economic momentum is driven by the agricultural sector and local small businesses, with limited large-scale industrial development occurring in this rural setting.
Property taxes are assessed at the county level by Kingsbury County, utilizing a market-value assessment system with standard agricultural and homestead exemptions available to qualifying residents.
Commuting is primarily car-dependent, with residents typically traveling to nearby regional hubs for employment; there is no public transit infrastructure.
Local amenities include the Laura Ingalls Wilder Historic Homes, several community parks, and access to nearby lakes for fishing and outdoor recreation.
The rental market is characterized by low inventory and stable demand, primarily serving local workers and those seeking affordable housing in a small-town setting.
The economy is heavily anchored by agriculture, local government, and small-scale retail services supporting the surrounding rural population.
Transportation is entirely reliant on private vehicles, with US Highway 14 serving as the primary corridor for regional travel.
There are no major large-scale commercial or residential developments currently under construction in the ZIP code.
Kingsbury County assesses property based on annual market value updates to ensure equitable distribution of the tax burden.
Parcels are subject to standard school district and county-level property tax levies, with no significant MUD or PID presence.
Property insurance premiums are generally stable, though coverage for wind and hail damage is a standard consideration for homeowners in this region.
Data retrieved from data.census.gov ZCTA 57231 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A major regional tourist attraction celebrating the author's life.
Provides local green space and recreational facilities for residents.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.