How has Pierre's housing market performed over the past year?

Pierre's housing market appreciated 6.6–6.7% year-over-year through September 2025, with median values reaching $286,000–$296,000. Homes sell in 27–31 days on average, indicating healthy buyer demand and a balanced market favoring neither buyers nor sellers excessively.

Is Pierre, SD an affordable market for real estate investment?

Yes, Pierre ranks among South Dakota's top three most affordable markets by affordability score and is the seventh-cheapest housing market in the state. Median home values of approximately $286,000–$296,000 remain significantly below national averages, making it accessible for investors with moderate capital.

What drives demand for rental properties in Pierre?

Pierre's role as South Dakota's state capital creates stable government employment, attracting professionals and families seeking affordable housing. Steady population and consistent income growth support sustained rental demand, with one-bedroom rents growing from $600 in 2010 to $950 in 2025.

Multi Family Investment Properties for Sale in Pierre, SD

Property at 518 W Capitol Ave, Pierre, SD

3 Bed
3 Bath
1740 sft

518 W Capitol Ave, Pierre, SD, 57501

- Bed
2 Bath
1824 sft

219 S Adams Ave, Pierre, SD, 57501

Property at 403 & 405 S Taylor Ave, Pierre, SD

- Bed
2 Bath
1355 sft

403 & 405 S Taylor Ave, Pierre, SD, 57501

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Why Invest in Pierre, South Dakota?

Pierre, South Dakota's capital, presents compelling opportunities for multi-family real estate investors seeking stable, affordable markets with strong fundamentals. The city's median home values of approximately $286,000–$296,000 have appreciated 6.6–6.7% year-over-year, reflecting consistent market strength. Multi-family properties benefit from steady rental demand, with one-bedroom apartments averaging $950 monthly in 2025, up from $600 in 2010. The market remains relatively balanced with homes selling in 27–31 days on average, indicating healthy buyer interest without excessive competition. Pierre ranks among South Dakota's top three most affordable markets by affordability score, making it attractive for value-focused investors seeking cash flow and long-term appreciation.

6.7%

Avg. ROI

4.2%

Rental Yield

5.8%

Cap Rate

$285/mo

Avg. Cash Flow

$950/mo

Avg. Rent

6.7%

1Y Appreciation

Frequently Asked Questions

Multi-family properties in Pierre typically generate rental yields of 4–5% based on current median home values of $286,000–$296,000 and average rents of $950 monthly. The combination of affordable entry prices and steady rental demand makes Pierre attractive for cash flow-focused investors seeking moderate but reliable returns.

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Multi Family Investment Properties for Sale in Pierre, SD

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What is the typical rental yield for multi-family properties in Pierre, SD?

How has Pierre's housing market performed over the past year?

Is Pierre, SD an affordable market for real estate investment?

What drives demand for rental properties in Pierre?

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