Tea, SD—57064
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tea, SD
As of Oct '25, the median home price in Tea, SD is $377,000, with a year-over-year change of 3.5%. This indicates that home prices in Tea, SD are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $377,000 | 3.5% |
| Single Family | $377,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $304,000 | 1.3% |
3 Bed | $351,000 | 1.4% |
4 Bed | $388,000 | 5.4% |
| 5 Bed | $517,000 | 6.4% |
% of Housing Stock
Rental Trends — Tea, SD
As of July '25, Rentcast reports the average rent in Tea, SD is $1,350, with a year-over-year rent change of 6.3%. Per bedroom, the median rent as of July '25 in Tea, SD is 1-bedrooms: $958, 2-bedrooms: $1,280, 3-bedrooms: $1,500. The most common rental property sizes in Tea, SD are 2-bedroom and 4-bedroom, accounting for 42.5% and 25.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,350 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,020 | $958 |
| 2 Bed Rent | $1,200 | $1,280 |
| 3 Bed Rent | $1,600 | $1,500 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Tea, SD
As of Oct '25, Realtor.com reports that the median days on market for a home in Tea, SD is 107. This is a decrease of -27.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 4.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $396,000 | 5.0% |
Listing Count | 98 | 11.0% |
| Listings as % of Homes | 1.1% | 11.0% |
Days on Market | 107 | -27.0% |
Demographics — Tea, SD
As of the latest ACS Survey released in 2023, Tea, SD has a population of 7,620, which has increased by 19.2% over the past 5 years. Tea, SD is a popular place for families, as children make up 34.8% of the population. The area has a moderately educated workforce, with 39.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,620 | 19.2% |
% Under 18 | 34.8% | -0.6% |
% Seniors | 6.9% | 38.0% |
% WFH | 17.0% | 486.2% |
% w/ College Degree | 39.2% | 8.6% |
As of the latest ACS Survey released in 2023, Tea, SD is a predominantly white area, with 91.6% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Tea, SD is black, making up 3.5% of the population. Foreign-born residents account for 1.3% of the population in Tea, SD, and this percentage has increased by 18.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.6% | -5.0% |
% Black | 3.5% | 1,066.7% |
% Hispanic | 1.4% | -39.1% |
% Asian | 0.7% | 250.0% |
% Foreign Born | 1.3% | 18.2% |
Mortgage and Risk — Tea, SD
According to HUD data as of 2023, there were 271 mortgage originations in Tea, SD, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Tea, SD. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 271 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Tea, SD
Tea, SD lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 27 |
Total Units Section 8 | 27 |
% Rentals under Section 8 | 6.0% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,020 | $1,010 |
| 2 Bedroom | -$20 | $1,200 | $1,180 |
| 3 Bedroom | $20 | $1,600 | $1,620 |
| 4 Bedroom | N/A | N/A | $1,980 |
Affordability — Tea, SD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $377,000 |
| Median Household Income | $104,000 |