57785, Sturgis, SD

The Sturgis zip code 57785 has a population of just over 10,000 people and is located in the southwestern part of the state. The median household income in this zip code is just over $50,000, which is significantly higher than the statewide median income of $37,500. However, despite this high median income, home prices in this zip code are much lower than the statewide average. In fact, as of September 2017, the median home value in Sturgis was just $130,000 compared to the statewide median home value of $212,500. This discrepancy can likely be attributed to a number of factors including lower demand for homes in Sturgis relative to other parts of South Dakota and low interest rates.

Despite these lower home values, homeownership rates in Sturgis are still above the statewide average. As of September 2017, 54% of households living in Sturgis were owner-occupied compared to 49% for all of South Dakota. Additionally, while there may be less demand for homes in Sturgis than elsewhere in South Dakota, there is still a healthy supply of available homes due to low interest rates and limited inventory growth over recent years. This means that even if you do not find an affordable home on the market today that will likely become available within a few months or years as inventory levels continue to grow at a slower rate than desired by buyers.