Brookings, SD—57006
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Brookings, SD
Home Price Trends — Brookings, SD
As of Oct '25, the median home price in Brookings, SD is $307,000, 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 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $307,000 | 5.6% |
| Single Family | $308,000 | 5.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $241,000 | 4.3% |
3 Bed | $280,000 | 6.1% |
4 Bed | $328,000 | 5.8% |
| 5 Bed | $418,000 | 6.4% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Brookings, SD
As of Oct '25, Realtor.com reports that the median days on market for a home in Brookings, SD is 81. This is a increase of 90.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $347,000 | -8.0% |
Listing Count | 103 | 12.0% |
| Listings as % of Homes | 0.5% | 12.0% |
Days on Market | 81 | 90.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $307,000 |
| Median Household Income | $64,800 |