57793, Whitewood, SD

The home equity and home prices in the 57793 zip code of Whitewood, SD are reflective of the overall market conditions in the area. Over the past five years, home values have increased by an average of 6.5%, which is slightly higher than the national average of 5.4%. However, given that this is a rural area with limited job opportunities, it is not surprising that home values here are relatively low when compared to other areas in the country. In fact, according to Zillow’s recent report on “The State of Home Values 2018”, Whitewood ranks as the #1 most affordable zip code in America with an median home value of $119,000.

Despite these relatively low prices, there has been a modest uptick in sales activity over the past year or so. This may be attributable to several factors including: 1) increasing demand from families who are looking for more affordable housing options; 2) continued economic growth across South Dakota; and 3) favorable mortgage rates that have made buying a home more affordable for many people. Overall, while there may not be a lot of upside potential for property values here in Whitewood at this point in time, it seems likely that they will continue to rise over time as long as economic conditions remain stable and buyers can find financing that meets their needs.