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Rental Insights for ZIP Code 57073 (Wakonda, SD)

Housing Rentals in ZIP Code 57073 (Wakonda, SD)

57073 ZIP Code in South Dakota

A Deep Analysis of Housing Rentals in the ZIP Code 57073

The 57073 ZIP Code is principally located in Wakonda, SD in Clay County. The estimated median housing rent in this region of South Dakota is $825 per month. About 25.1% of housing units in this Clay County ZIP Code are occupied by renters, while the region has an approximate rental vacancy rate of 18.1%.

The median rent in ZIP Code 57073 of $825 per month is 10% higher than the aggregate South Dakota median monthly rent of $747, and is 22% lower than the $1,062 the median monthly rent in the U.S. overall. An estimated 80.8% of residents in ZIP Code 57073 have a monthly rent payment between $500 and $999. That is 40% higher than in South Dakota overall, in which 57.6% of total state residents pay between $500 and $999 per month for housing. Just 7.7% of renters in this Wakonda, SD region pay between $1,000 and $1,499 per month for rent.

ZIP Code 57073 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 57073

See the chart below for a comparison of monthly rental costs in ZIP Code 57073, South Dakota, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 57073 along with those in the state of South Dakota and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 57073

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 57073 South Dakota U.S.
Less than $500 11.5% 19.7% 9.4%
$500 to $999 80.8% 57.6% 36.2%
$1,000 to $1,499 7.7% 17.6% 30.0%
$1,500 to $1,999 0.0% 3.3% 14.0%
$2,000 to $2,499 0.0% 0.7% 5.6%
$2,500 to $2,999 0.0% 0.4% 2.4%
$3,000 or more 0.0% 0.7% 2.4%

Rent Cost vs. Income in ZIP Code 57073

Renters in ZIP Code 57073 use an estimated 25.93% of their income to cover their monthly rent payments. That is about 4% lower than in South Dakota overall. The estimate for South Dakota overall is 27.05% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 57073 renters use about 13% less of their income to cover rent expense. Household income figures for ZIP Code 57073 come in lower than in South Dakota as a whole. The median annual household income in ZIP Code 57073 of $42,101 sits approximately 28% lower than the overall South Dakota median income of $58,275 and approximately 33% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 57073

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 57073, South Dakota, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 57073 along with the same calculations in the state of South Dakota and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 57073

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 57073 South Dakota U.S.
Less than 15.0 percent 9.6% 18.8% 13.1%
15.0 to 19.9 percent 0.0% 15.6% 12.9%
20.0 to 24.9 percent 53.8% 14.5% 12.9%
25.0 to 29.9 percent 7.7% 11.2% 11.6%
30.0 to 34.9 percent 15.4% 8.6% 9.1%
35.0 percent or more 13.5% 31.3% 40.5%

Household Income in ZIP Code 57073

See the table below for the regional comparison of annual household income in ZIP Code 57073.

Income ZIP 57073 South Dakota U.S.
Less than $10,000 5.2% 5.4% 6.0%
$10,000 to $14,999 3.0% 4.5% 4.3%
$15,000 to $24,999 9.6% 9.0% 8.9%
$25,000 to $34,999 9.2% 10.2% 8.9%
$35,000 to $49,999 31.0% 13.6% 12.3%
$50,000 to $74,999 12.2% 19.4% 17.2%
$75,000 to $99,999 9.2% 14.6% 12.7%
$100,000 to $149,999 11.8% 14.4% 15.1%
$150,000 to $199,999 6.6% 4.7% 6.8%
$200,000 or more 2.2% 4.2% 7.7%

Household Income in ZIP Code 57073

See the chart below for a comparison of annual household income figures in ZIP Code 57073, South Dakota, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 57073 alongside the same figures for the state of South Dakota and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 57073

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 57073.

ZIP 57073 South Dakota U.S.
Median Housing Rent $825 $747 $1,062
Renter-Occupied Housing Units 25.1% 32.2% 36.0%
Rental Vacancy Rate 18.1% 6.7% 6.0%
Average Size of Renter-Occupied Unit 3.10 2.20 2.49
Average # of Bedrooms Per Unit 2.96 2.91 2.75
Percent of Income Spent on Rent 25.93% 27.05% 29.83%
Per Capita Income $24,094 $30,773 $34,103
Median Household Income $66,042 $76,240 $88,607
Living Below the Poverty Line 0.6% 8.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 57073

In ZIP Code 57073 (Wakonda, SD), and estimated 25.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 18.1%.

The per capita income in 57073 is estimated at $24,094, which goes along with an estimated median household income of $66,042. About 0.6% of residents in this Clay County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 3.10 occupants, while the units have an aggregate average size of 2.96 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 25.93% of their income on housing rental costs.

Rental FAQs for ZIP Code 57073

1

What is the median monthly rent in ZIP Code 57073?

Median rent for housing in ZIP Code 57073 in Clay County in South Dakota is approximately $825 per month.
2

Is it expensive to rent in ZIP Code 57073?

Rent in ZIP Code 57073 is higher than average in the state of South Dakota overall. The median monthly rent of $825 in ZIP Code 57073 is approximately 10% higher than the South Dakota median of $747. Additionally, median rent in this Wakonda, SD region ($825) is about 22% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 57073?

High-priced rentals are not common in the Wakonda, SD ZIP Code of 57073, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of South Dakota overall, approximately 0.7% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 57073?

Affordable rentals are more common in ZIP Code 57073 than in South Dakota overall. The percentage of housing rentals in ZIP Code 57073 costing $999 or less per month (92.3%) is approximately 19% higher than the South Dakota rate of 77.3% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 102% lower than the previously mentioned 57073 rate of 92.3%.
5

What is the most common cost range that rentals fall into in ZIP Code 57073?

The most common range for rental cost in ZIP Code 57073 is between $500 and $999 per month. About 80.8% of renters in 57073 pay in this range for monthly rent. In comparison, approximately 57.6% of renters in the state of South Dakota fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 57073 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 57073 is higher than the rental vacancy rate in the state of South Dakota overall. Rental vacancy of 18.1% in ZIP Code 57073 is about 170% higher than the South Dakota rate of 6.7%. Looking more broadly, rental vacancy in this Wakonda, SD region (18.1%) is an estimated 202% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 57073? How does it compare to other South Dakota regions?

Median household income in ZIP Code 57073 is lower than in the state of South Dakota overall. Annual household income of $42,101 in ZIP Code 57073 is about 28% lower than the South Dakota median of $58,275. Additionally, median household income in this Wakonda, SD region ($42,101) is approximately 33% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 57073 spend on housing costs?

Renters in ZIP Code 57073 spend a lower amount of their income on rent costs than do renters in South Dakota overall. Renters in ZIP Code 57073 spend an estimated 25.93% of their income on rent payments, which is about 4% lower than the overall South Dakota estimated rate of 27.05%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 13% higher than the ZIP Code 57073 estimated rate of 25.93%.
9

Do renters in ZIP Code 57073 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 57073 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 57073 spending 30 percent or more of their income on rent costs (28.9%) is approximately 28% lower than the South Dakota rate of 39.9% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 42% higher than the aforementioned 57073 rate of 28.9%.
10

What is the average household size of renter-occupied units in ZIP Code 57073?

The average household size of renter-occupied units in ZIP Code 57073 is higher than in the state of South Dakota overall. Annual household size of 3.10 in ZIP Code 57073 is about 41% higher than the South Dakota median of 2.20. Additionally, median household size in this Wakonda, SD region (3.10) is approximately 24% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other South Dakota ZIP Codes