Tea, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Tea Neighborhoods Since 2000




Tea, 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

Tea Housing Market Information

With 4,839 people, 1,487 houses or apartments, and a median cost of homes of $218,461, Tea real estate is some of the most expensive in South Dakota, although Tea home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Tea, accounting for 78.01% of the city's housing units. Other types of housing that are prevalent in Tea include large apartment complexes or high rise apartments ( 12.38%), duplexes, homes converted to apartments or other small apartment buildings ( 4.41%), and a few row houses and other attached homes ( 3.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Tea. Owner-occupied housing accounts for 78.88% of Tea's homes, and 64.19% have either three or four bedrooms, which is average sized relative to America.

Tea homes and real estate are some of the newest in America. 54.44% of Tea's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Tea real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 38.71%), and between 1940-1969 ( 4.15%). There's also some housing in Tea built before 1939 ( 2.70%).

Tea Home Appreciation Rates

In the last 10 years, Tea has experienced some of the highest home appreciation rates of any community in the nation. Tea real estate appreciated 16.10% over the last ten years, which is an average annual home appreciation rate of 1.50%, putting Tea in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tea definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Tea that despite a nationwide downturn in the housing market, Tea real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tea appreciation rates continue to be some of the highest in America, at 5.66%, which is higher than appreciation rates in 70.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tea. Tea appreciation rates in the latest quarter were at 1.51%, which equates to an annual appreciation rate of 6.18%.

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

Average Home Values

 

Median Home Value:
$218,461

Tea, SD HOME PRICES

Value Range
> $1,165,000 0.0
$874,001 - $1,165,000 0.0
$583,001 - $874,000 0.0
$466,001 - $583,000 2.2
$350,001 - $466,000 11.0
$233,001 - $350,000 24.7
$117,001 - $233,000 61.2
$58,001 - $117,000 0.3
$0 - $58,000 0.7

Very High for SD
High for Nation

Value Relative to Nation Value Relative to State
27.9971873901324 5.0

Number Of Homes And Apartments:
1,487

Tea 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
50.88% 2.41% 2 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$980 / per month

Homeownership Rate

Homeownership
Owners 78.88
Renters 21.12
Vacant 2.11

Housing Market Details

 

Age of Homes

AGE OF Tea HOMES
2000 or Newer 54.4
1970 - 1999 38.7
1940 - 1969 4.1
1939 or Older 2.7

Types of Homes

TYPE OF Tea HOMES
Single-Family 78.0
Townhomes 3.8
Small Apt. Buildings 4.4
Apt. Complexes 12.4
Mobile Homes 1.4
Other 0.0

Home Size

SIZE OF Tea HOMES
No Bedroom 0.00
1 Bedroom 8.56
2 Bedrooms 15.21
3 Bedrooms 30.55
4 Bedrooms 33.64
5 or more bedrooms 12.05

Popular Neighborhoods in Tea

Zip Codes in Tea, SD