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Brookings, SD—57006

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$306,000
5.6% YoY Growth
Household Income
$64,800
22.0% YoY Growth
Days on Market
118
17.0% Longer YoY
Home Price Forecast
2.6%
Median Rent
$949
4.4% YoY Growth
1-Bed Rent
$1,160
N/A
2-Bed Rent
$949
30.2% YoY Growth
3-Bed Rent
$2,200
8.0% YoY Growth

Other Zip Codes in Brookings, SD

57007
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Brookings, SD

As of Dec '25, the median home price in Brookings, SD is $306,000, with a year-over-year change of 5.6%. This indicates that home prices in Brookings, SD are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$306,0005.6%
Single Family $307,0005.9%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$238,0003.9%
    3 Bed
    		$278,0005.7%
    4 Bed
    		$327,0006.2%
    5 Bed $414,6806.6%
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    % of Housing Stock

    Studio
    2.3%
    1 Bedroom
    12.4%
    2 Bedrooms
    28.6%
    3 Bedrooms
    22.6%
    4 Bedrooms
    23.9%
    5+ Bedrooms
    10.1%

    Rental Trends — Brookings, SD

    As of July '25, Rentcast reports the average rent in Brookings, SD is $1,310, with a year-over-year rent change of -4.4%. Per bedroom, the median rent as of July '25 in Brookings, SD is studios: $863, 1-bedrooms: $1,100, 2-bedrooms: $1,160, 3-bedrooms: $1,880, 4-bedrooms: $2,720. The most common rental property sizes in Brookings, SD are 2-bedroom and 1-bedroom, accounting for 42.4% and 24.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$949$1,310
    Studio Rent $855$863
    1 Bed Rent $1,160$1,100
    2 Bed Rent $949$1,160
    3 Bed Rent $2,200$1,880
    4 Bed Rent $2,650$2,720
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    % of Rental Stock

    Studio
    4.9%
    1 Bedroom
    24.1%
    2 Bedrooms
    42.4%
    3 Bedrooms
    14.9%
    4 Bedrooms
    8.8%
    5+ Bedrooms
    5.0%

    Property Listings — Brookings, SD

    As of Dec '25, Realtor.com reports that the median days on market for a home in Brookings, SD is 108. This is a increase of 41.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$348,000-7.0%
    Listing Count
    		77-12.0%
    Listings as % of Homes0.5%-12.0%
    Days on Market
    		11817.0%
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    Demographics — Brookings, SD

    As of the latest ACS Survey released in 2023, Brookings, SD has a population of 23,800, which has decreased by -9.4% over the past 5 years. Brookings, SD is a moderately popular place for families, as children make up 21.6% of the population. The area has a highly educated workforce, with 49.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		23,800-9.4%
    % Under 18
    		21.6%22.7%
    % Seniors
    		13.5%33.7%
    % WFH
    		10.3%145.2%
    % w/ College Degree
    		49.5%15.1%
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    As of the latest ACS Survey released in 2023, Brookings, SD is a predominantly white area, with 86.5% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Brookings, SD is asian, making up 4.6% of the population. Foreign-born residents account for 6.8% of the population in Brookings, SD, and this percentage has decreased by 1.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		86.5%-3.8%
    % Black
    		1.5%-21.1%
    % Hispanic
    		3.9%69.6%
    % Asian
    		4.6%31.4%
    % Foreign Born
    		6.8%-1.4%
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    Mortgage and Risk — Brookings, SD

    According to HUD data as of 2023, there were 277 mortgage originations in Brookings, SD, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Brookings, SD. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		277
    % Conventional Loans
    		82.0%
    % Government Loans
    		18.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Brookings, SD

    Brookings, SD lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		546
    Total Units Section 8
    		515
    % Rentals under Section 8
    		N/A
    % Occupied Section 8
    		59.6%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$400$1,160$760
    2 Bedroom-$29$949$920
    3 Bedroom-$910$2,200$1,290
    4 Bedroom-$1,110$2,650$1,540

    Affordability — Brookings, SD

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.2
    Median Home Price$306,000
    Median Household Income$64,800

    Brookings, SD — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    57007

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    Frequently Asked Questions