A typical Colman home is worth roughly $236,000
Home prices around Colman have risen about 72% over the past 5 years. Builders were permitted 6 new homes in 2025.
What kind of housing town is Colman?
Read from the numbers below. The page puts what stands out first.
Home prices up 72% in 5 years
The federal house price index for the ZIP code around Colman rose 72% over the past 5 years, faster than across South Dakota (50%). Last year prices rose 20%.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Colman, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 3.1 years of income
Less than across South Dakota (4.3 years). Try your own numbers below.
That covers a typical Colman home, with $56K to spare.
A two-bedroom rents for about $930 a month here, $500 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Colman’s typical property tax (1.01% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $930
Renters already here pay a median of $733, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lake County, SD): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
6 new homes permitted in 2025
Builders were permitted 6 new homes in Colman in 2025, all single-family houses, worth about $1.5 million to build. Over the past 10 years, Colman has permitted 33 homes in all.
Between the 2010 and 2020 censuses, Colman gained 40 residents with no new homes permitted, so the growth came from existing homes. Across South Dakota: 1.6 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 4 | 4 | 0 | $979,000 |
| 2025 | 6 | 6 | 0 | $1.5 million |
| 2024 | 6 | 6 | 0 | $1.5 million |
| 2023 | 8 | 6 | 2 | $1.7 million |
| 2022 | 6 | 4 | 2 | $1.3 million |
| 2021 | 7 | 5 | 2 | $1.5 million |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 3 | 3 | 0 | $340,000 |
| 2008 | 4 | 4 | 0 | $965,000 |
| 2007 | 8 | 8 | 0 | $795,000 |
| 2006 | 3 | 3 | 0 | $312,000 |
| 2005 | 1 | 1 | 0 | $180,000 |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 1 | 1 | 0 | $150,000 |
| 2002 | 0 | 0 | 0 | — |
| 2001 | 1 | 1 | 0 | $60,000 |
| 2000 | 0 | 0 | 0 | — |
Colman's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
78% of Colman households own their home
Half of Colman’s homes were built before 1974.
South Dakota: 69% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
Neighbors talk housing
What Colman buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.