The story of this market
The typical home in ZIP 57001 sells for about $229,882, or $135 per square foot.
Prices are up +219.3% from a year ago, so sellers still have some momentum. Homes take about 43 days to sell. HUD's fair market rent for a two-bedroom is $839 a month.
ZIP 57001 — Alcester
The housing market in 57001 is experiencing significant price appreciation, likely driven by low inventory levels and steady demand from the university community. While sales volume remains modest, the market is characterized by competitive conditions for available single-family homes. Overall, the area maintains a stable economic outlook supported by institutional stability.
This ZIP is well-suited for university-affiliated individuals, families seeking a small-town environment, and those prioritizing proximity to educational and local employment hubs.
Median prices moved up 219.3% year over year.
Homes spend a median of 43 days on market with 3.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.1% · poverty 8.2% — 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 4.5%/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 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 57001, Clay County SD
The area is served by the Vermillion School District, which maintains standard public education facilities for the local population.
The region is subject to standard Midwestern climate risks, including severe thunderstorms and winter weather; flood risk is localized to areas near the Missouri River.
Economic momentum is anchored by the University of South Dakota, which serves as a primary employer and driver of local infrastructure and development.
Property taxes are assessed at the county level by Clay County based on market value; South Dakota does not impose a state personal income tax.
Commutes are generally short due to the compact nature of the city, with most residents traveling within the immediate Vermillion area for work.
The area features access to the Missouri River for water recreation, several municipal parks, and proximity to the Bluffs Golf Course.
The rental market is heavily influenced by the university student population, resulting in consistent demand and seasonal vacancy fluctuations.
The economy is driven by the public sector, specifically the University of South Dakota, alongside healthcare and regional agricultural services.
The area relies primarily on personal vehicle transit, with limited public transportation options available within the city limits.
Development is focused on infill projects and university-related infrastructure improvements.
Clay County utilizes a mass appraisal system to determine property values for tax purposes.
Parcels are subject to Vermillion School District taxes and standard municipal utility assessments.
Property insurance premiums are moderate but reflect exposure to severe weather events common in the Great Plains.
South Dakota is a non-judicial foreclosure state.
Sellers are required to provide a property condition disclosure statement to buyers.
Data retrieved from Census Bureau QuickFacts and ZCTA-level aggregations.
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.
Major anchor institution providing cultural events and sports.
Central municipal park with recreational facilities.
Public golf course serving the local community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.