Box Elder, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Box Elder Neighborhoods Since 2000




Box Elder, SD Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Box Elder Housing Market Information

With a population of 9,289, 3,044 total housing units (homes and apartments), and a median house value of $158,057, Box Elder real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Box Elder, accounting for 28.67% of the city's housing units. Other types of housing that are prevalent in Box Elder include mobile homes or trailers ( 26.70%), row houses and other attached homes ( 23.74%), and a few large apartment complexes or high rise apartments ( 12.19%).

The most prevalent building size and type in Box Elder are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 39.77% owning and 60.23% renting.

There is a lot of housing in Box Elder built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Box Elder built between 2000 and later ( 36.84%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.14%). There's also some housing in Box Elder built before 1939 ( 2.94%).

Vacant housing appears to be an issue in Box Elder. Fully 10.58% of the housing stock is classified as vacant. Left unchecked, vacant Box Elder homes and apartments can be a drag on the real estate market, holding Box Elder real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Box Elder Home Appreciation Rates

In the last 10 years, Box Elder has experienced some of the highest home appreciation rates of any community in the nation. Box Elder real estate appreciated 27.39% over the last ten years, which is an average annual home appreciation rate of 2.45%, putting Box Elder in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Box Elder definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Box Elder's appreciation rate, at 3.24%, has been at or slightly above the national average. In the latest quarter, Box Elder's appreciation rate has been 1.82%, which annualizes to a rate of 7.50%.

Importantly, this makes Box Elder one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to South Dakota, our data show that Box Elder's latest annual appreciation rate is lower than 80% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$158,057

Box Elder, SD HOME PRICES

Value Range
> $1,141,000 1.3
$856,001 - $1,141,000 0.1
$570,001 - $856,000 1.7
$456,001 - $570,000 1.2
$342,001 - $456,000 3.8
$228,001 - $342,000 17.5
$114,001 - $228,000 43.9
$57,001 - $114,000 15.2
$0 - $57,000 15.4

High for SD
Average for Nation

Value Relative to Nation Value Relative to State
46.5545529122231 25.8333333333333

Number Of Homes And Apartments:
3,044

Box Elder Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
87.38% 3.71% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,136 / per month

Homeownership Rate

Homeownership
Owners 39.77
Renters 60.23
Vacant 10.58

Housing Market Details

 

Age of Homes

AGE OF Box Elder HOMES
2000 or Newer 36.8
1970 - 1999 55.1
1940 - 1969 5.1
1939 or Older 2.9

Types of Homes

TYPE OF Box Elder HOMES
Single-Family 28.7
Townhomes 23.7
Small Apt. Buildings 8.7
Apt. Complexes 12.2
Mobile Homes 26.7
Other 0.0

Home Size

SIZE OF Box Elder HOMES
No Bedroom 0.32
1 Bedroom 3.79
2 Bedrooms 35.52
3 Bedrooms 36.28
4 Bedrooms 20.68
5 or more bedrooms 3.41

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Zip Codes in Box Elder, SD