The story of this market
The typical home in ZIP 57747 sells for about $317,406, or $234 per square foot.
Prices are down 3.1% from a year ago, which gives buyers more room to negotiate. Homes take about 76 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $688 a month.
ZIP 57747 — Hot Springs
The 57747 housing market is currently experiencing a period of stabilization with a median sale price of approximately $317,406. Market activity is relatively low, reflecting the rural nature of the area and a high concentration of retirement-aged residents. Inventory remains steady, and the market is not considered highly competitive.
This ZIP is well-suited for retirees and those seeking a quiet, rural lifestyle in the Black Hills region, given the older median age and lower cost of living.
Median prices moved down 3.1% year over year.
Homes spend a median of 76 days on market with 2.3 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.7% · poverty 18.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 12.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 57747, Fall River County SD
The area is served by the Hot Springs School District, which provides public education for the local community.
The area has high wildfire risk scores and moderate flood risk scores according to regional planning data.
The local economy is driven by healthcare, retail trade, and construction, with a significant focus on retirement-oriented services.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (South Dakota) — Property Tax Assessment and Levy: Property is assessed at full and true market value, then equalized to 85% of that value to determine the taxable value. State (South Dakota) — Property Tax Discretionary Formula: Provides a tax break on the assessed value of new structures or additions for up to five or seven years, at the discretion of the county commissioners.
The mean commute time is significantly high, reflecting the rural nature of the region and distance to major employment hubs.
The area features access to the Black Hills, Angostura Reservoir, and various local parks and trails suitable for outdoor activities.
The rental market is characterized by lower-than-average rents compared to the national median, with a stable but limited supply.
The economy is anchored by healthcare, retail, and construction sectors, with a notable emphasis on the retirement and tourism industries.
Transportation is primarily reliant on personal vehicles due to the rural geography and lack of public transit infrastructure.
Development is largely focused on residential expansion and maintaining infrastructure for the growing retiree population.
Fall River County assesses property values based on market data and state-mandated appraisal cycles.
Parcels are subject to county-level property taxes and local school district levies.
Property insurance premiums are influenced by the area's high wildfire risk profile.
South Dakota follows a non-judicial foreclosure process for most residential properties.
Sellers are required to provide a property condition disclosure statement to buyers.
Data retrieved from US Census Bureau and US5 demographic profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
A major regional destination for boating, fishing, and camping.
Provides extensive hiking, biking, and scenic outdoor access.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.