Is Hot Springs, SD a good place to invest in rental property?

Hot Springs, SD has a median modeled monthly cash flow of $-1,443 and a median cap rate of 1.5%, on a median sold price of $260,000. Prices changed +2.8% year over year.

What is the average cap rate in Hot Springs, SD?

The median cap rate across recently sold homes in Hot Springs, SD is 1.5%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Hot Springs, SD?

The median sold price in Hot Springs, SD is $260,000 (about $204 per square foot).

Investing in Hot Springs, SD Real Estate

A data-driven snapshot of the Hot Springs, SD rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$260,000Median sold price

$204Median $/sqft

1.5%Median cap rate

$-1,443Modeled cash flow / mo

+2.8%Appreciation YoY

15.8Months of supply

150Active listings

114Sold (last 12 mo)

What the Hot Springs numbers say

In Hot Springs, SD, the median home sold for $260,000 (about $204 per square foot), and the typical deal models out to a 1.5% cap rate with a median $-1,443 of monthly cash flow. Sold prices moved +2.8% over the past year. Inventory sits at about 15.8 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other South Dakota markets to compare

See Hot Springs cash-flowing listings

CashFlowRE ranks every for-sale home in Hot Springs, SD by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Hot Springs deals, or browse the national market data.