New Underwood, SD housing market
The typical New Underwood home is worth about $442,000, up 10.2% in a year, 38% above the South Dakota typical home.
Home values, sales, trends and how New Underwood compares with the towns next door — updated as new data is published.
New Underwood at a glance
Only 1 sale in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | New Underwood | South Dakota |
|---|---|---|
| 2017 | $185,000 | $186,000 |
| 2018 | $197,000 | $195,000 |
| 2019 | $214,000 | $203,000 |
| 2020 | $227,000 | $215,000 |
| 2021 | $252,000 | $235,000 |
| 2022 | $308,000 | $272,000 |
| 2023 | $363,000 | $297,000 |
| 2024 | $372,000 | $301,000 |
| 2025 | $404,000 | $312,000 |
| 2026 | $424,000 | $319,000 |
| August 2026 | $442,000 | $322,000 |
1 new home permitted in 2025
Builders were permitted 1 new home in New Underwood in 2025. Over the past 10 years, New Underwood has permitted 15 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, New Underwood's population fell by 70 even though 3 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across South Dakota: 1.6 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 1 | 1 | 0 | $382,000 |
| 2024 | 1 | 1 | 0 | $200,000 |
| 2023 | 2 | 2 | 0 | $809,000 |
| 2022 | 2 | 2 | 0 | $334,000 |
| 2021 | 5 | 5 | 0 | $697,000 |
| 2020 | 3 | 3 | 0 | $835,000 |
| 2019 | 1 | 1 | 0 | $30,000 |
| 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 | 2 | 2 | 0 | $200,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 2 | 2 | 0 | $155,000 |
| 2006 | 2 | 2 | 0 | $155,000 |
| 2005 | 8 | 8 | 0 | $606,000 |
| 2004 | 8 | 8 | 0 | $1.1 million |
| 2003 | 12 | 12 | 0 | $812,000 |
| 2002 | 4 | 4 | 0 | $258,000 |
| 2001 | 0 | 0 | 0 | — |
| 2000 | 1 | 1 | 0 | $30,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,060
HUD's Fair Market Rent for a two-bedroom in New Underwood is $1,060 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in New Underwood pay a median of $850, so moving in tends to cost more than staying put.
Studio $730 · 4 bedrooms $1,750
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (57761; Rapid City, SD HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.