Vermillion, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Vermillion Neighborhoods Since 2000




Vermillion, 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

Vermillion Housing Market Information

With a population of 10,738, 3,991 total housing units (homes and apartments), and a median house value of $132,481, house prices in Vermillion are solidly below the national average.

Single-family detached homes are the single most common housing type in Vermillion, accounting for 43.18% of the city's housing units. Other types of housing that are prevalent in Vermillion include large apartment complexes or high rise apartments ( 28.65%), duplexes, homes converted to apartments or other small apartment buildings ( 13.30%), and a few mobile homes or trailers ( 10.63%).

Vermillion is dominated by renter-occupied one, two, or no bedrooms apartments. 68.50% of Vermillion's dwellings are rentals.

There is a lot of housing in Vermillion 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 Vermillion built between 1940-1969 ( 24.36%). A lesser amount of the housing stock also hails from before 1939 ( 18.31%). There's also some housing in Vermillion built between 2000 and later ( 14.36%).

Vermillion Home Appreciation Rates

In the last 10 years, Vermillion has experienced some of the highest home appreciation rates of any community in the nation. Vermillion real estate appreciated 24.48% over the last ten years, which is an average annual home appreciation rate of 2.21%, putting Vermillion in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Vermillion 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 Vermillion that despite a nationwide downturn in the housing market, Vermillion real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Vermillion appreciation rates continue to be some of the highest in America, at 6.84%, which is higher than appreciation rates in 80.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Vermillion. Vermillion appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to South Dakota, our data show that Vermillion's latest annual appreciation rate is higher than 90% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$132,481

Vermillion, SD HOME PRICES

Value Range
> $1,155,000 0.0
$866,001 - $1,155,000 0.0
$577,001 - $866,000 0.0
$462,001 - $577,000 2.8
$347,001 - $462,000 3.9
$231,001 - $347,000 15.6
$116,001 - $231,000 50.8
$58,001 - $116,000 15.9
$0 - $58,000 11.0

Average for SD
Average for Nation

Value Relative to Nation Value Relative to State
58.5081448494082 40.8333333333333

Number Of Homes And Apartments:
3,991

Vermillion 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
57.54% 2.67% 2 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$851 / per month

Homeownership Rate

Homeownership
Owners 31.50
Renters 68.50
Vacant 3.83

Housing Market Details

 

Age of Homes

AGE OF Vermillion HOMES
2000 or Newer 14.4
1970 - 1999 43.0
1940 - 1969 24.4
1939 or Older 18.3

Types of Homes

TYPE OF Vermillion HOMES
Single-Family 43.2
Townhomes 3.9
Small Apt. Buildings 13.3
Apt. Complexes 28.7
Mobile Homes 10.6
Other 0.3

Home Size

SIZE OF Vermillion HOMES
No Bedroom 0.67
1 Bedroom 15.20
2 Bedrooms 39.81
3 Bedrooms 22.72
4 Bedrooms 15.57
5 or more bedrooms 6.02

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Zip Codes in Vermillion, SD