Tea, SD 57064 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Tea, SD—57064

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$378,000

3.2% YoY Growth

Household Income

$104,000

22.9% YoY Growth

Days on Market

131

15.0% Shorter YoY

Home Price Forecast

1.8%

Median Rent

$1,300

6.3% YoY Growth

1-Bed Rent

$1,020

9.9% YoY Growth

2-Bed Rent

$1,200

17.4% YoY Growth

3-Bed Rent

$1,600

8.7% YoY Growth

Home Price Trends — Tea, SD

As of Nov '25, the median home price in Tea, SD is $378,000, with a year-over-year change of 3.2%. This indicates that home prices in Tea, 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	$378,000	3.2%
Single Family	$378,000	2.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

8.0%

2 Bedrooms

42.5%

3 Bedrooms

24.3%

4 Bedrooms

25.2%

Property Listings — Tea, SD

As of Nov '25, Realtor.com reports that the median days on market for a home in Tea, SD is 131. This is a decrease of -15.0% 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 5.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$391,000	4.0%
Listing Count	86	6.0%
Listings as % of Homes	1.1%	6.0%
Days on Market	131	-15.0%

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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%

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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%

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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%

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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

Tea, SD—57064

Key Metrics at a Glance

Home Price Trends — Tea, SD

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Tea, SD

% of Rental Stock

Property Listings — Tea, SD

Demographics — Tea, SD

Race and Ethnicity

Mortgage and Risk — Tea, SD

Mortgages

Rentals and Section 8 — Tea, SD

Section 8 Market Size

Section 8 Opportunity

Affordability — Tea, SD

Home Price to Income Ratio

Tea, SD — ZIP Code Boundary Map

Nearby ZIP Codes

Sioux Falls, SD

Chancellor, SD

Lennox, SD

Sioux Falls, SD

Sioux Falls

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$378,000
Median Household Income	$104,000

Tea, SD—57064

Key Metrics at a Glance

Home Price Trends — Tea, SD

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Tea, SD

% of Rental Stock

Property Listings — Tea, SD

Demographics — Tea, SD

Race and Ethnicity

Mortgage and Risk — Tea, SD

Mortgages

Rentals and Section 8 — Tea, SD

Section 8 Market Size

Section 8 Opportunity

Affordability — Tea, SD

Home Price to Income Ratio

Tea, SD — ZIP Code Boundary Map

Nearby ZIP Codes

Sioux Falls, SD

Chancellor, SD

Lennox, SD

Sioux Falls, SD

Sioux Falls

Frequently Asked Questions

What is the average home price in Tea, SD 57064?

How have home prices in Tea, SD 57064 changed over the past year?

What is the home price projection for Tea, SD 57064?

What are the demographics of Tea, SD 57064?

How long does it take homes to sell in Tea, SD 57064?

What is the average rent price in Tea, SD 57064?