The story of this market
The typical home in ZIP 57780 sells for about $458,580, or $235 per square foot.
Prices are down 12.1% from a year ago, which gives buyers more room to negotiate. Homes take about 38 days to sell. HUD's fair market rent for a two-bedroom is $2,200 a month.
ZIP 57780 — Scenic
The Spearfish housing market is showing signs of stabilization after a period of rapid price appreciation. While inventory remains tight, the market is balancing as buyer demand adjusts to current interest rate levels.
This ZIP is ideal for outdoor-oriented families, retirees seeking a scenic lifestyle, and university-affiliated professionals who value proximity to nature and a small-town community feel.
Median prices moved down 12.1% year over year.
Homes spend a median of 38 days on market with 1.4 months of supply — a fast-moving market.
19% of listings have cut prices · homes sell at 97.8% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 38.6% — a mixed stability 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 8.9%/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 7.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 57780, Lawrence County SD
Crime rates in Spearfish remain generally low compared to national averages, with property crime being the most frequently reported incident type.
The area is served by the Spearfish School District, which maintains a solid reputation for academic performance and extracurricular engagement within the Black Hills region.
The region faces moderate wildfire risks common to the Black Hills, necessitating proactive defensible space management for residential properties.
Economic momentum is driven by tourism, education via Black Hills State University, and regional healthcare services, with steady demand for housing.
Property taxes are assessed at the county level based on market value; South Dakota does not impose a state personal income tax.
Most residents enjoy short commutes within the city, with major regional access provided by Interstate 90 connecting to Rapid City.
The area is a premier destination for outdoor enthusiasts, featuring immediate access to the Black Hills National Forest, Spearfish Canyon, and numerous hiking and biking trails.
The rental market is characterized by high demand and low vacancy rates, significantly influenced by the student population and seasonal tourism workers.
The economy is anchored by Black Hills State University, regional healthcare providers, and a robust tourism sector centered on outdoor recreation.
Transportation is primarily automobile-dependent, with Interstate 90 serving as the primary artery for regional transit.
Development is focused on infill residential projects and expanding commercial capacity to support the growing tourism and student populations.
The Lawrence County Director of Equalization manages property assessments, aiming for market-value parity across the county.
Parcels are subject to standard municipal and county levies, with specific assessments for local school and emergency service districts.
Property insurance premiums are influenced by regional wildfire risk and the cost of construction in the Black Hills area.
null
null
null
Data retrieved from data.census.gov ZCTA 57780 profile.
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.
Renowned for scenic drives, waterfalls, and hiking trails.
Anchor institution providing cultural and athletic events.
Central green space featuring the Spearfish Creek and walking paths.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.