Commercial Real Estate Market in South Dakota

Q: Which markets in South Dakota have the most active listings?

Sioux Falls , Aberdeen , Spearfish , Lead and Sturgis have the most active commercial listings, with 323, 87, 46, 30 and 24 respectively. Realmo tracks 9 city markets here, each with its own market page.

South Dakota has 690 active for-sale listings and 277 active for-lease listings. Statewide, the median asking price is $122/SF and the median asking rent is $14.39/SF/Yr as of November 2026. Realmo tracks 9 city markets here; among the 4 with enough listings to rank, median asking prices range from $80/SF in Huron to $143/SF in Spearfish.

Median asking price: $122/SF
Median asking rent: $14.39/SF/Yr
For-sale listings: 690
For-lease listings: 277
City markets: 9

Highest- and Lowest-Priced Markets

Asking prices vary across South Dakota: the median in Spearfish is $143/SF, 1.8x the $80/SF median in Huron. The figures below are median asking prices from live listings, not closed sales.

Asking Prices

Spearfish and Sioux Falls have the highest median asking prices, at $143/SF and $142/SF. 2 of 4 ranked markets have median asking prices above the statewide $122/SF.

South Dakota vs. Neighboring States

The median asking price in South Dakota is $122/SF, below the $139/SF median of its 6 neighboring states. By median asking price, the state ranks 6th of 7 in the group; Montana is highest at $205/SF and Iowa lowest at $100/SF. The median asking rent is $14.39/SF/Yr, compared with $15.25/SF/Yr in Minnesota, $14.00/SF/Yr in Iowa and $19.00/SF/Yr in Montana next door. The statewide median asking price is below the U.S. median of $178/SF.

State	Median Asking Price, $/SF	Median Asking Rent, $/SF/Yr	For-Sale Listings	For-Lease Listings
South Dakota	$122	$14.39	690	277
Iowa	$100	$14.00	3,011	2,265
Minnesota	$143	$15.25	3,593	2,274
Montana	$205	$19.00	2,186	826
Nebraska	$131	$15.79	838	890
North Dakota	$135	$16.00	551	337
Wyoming	$175	$45.00	807	73
United States	$178	$18.28	265,785	185,367

A dash means fewer than 10 listings with a usable price.

Commercial Real Estate Markets in South Dakota

Realmo tracks 9 city markets in South Dakota, listed below by active listings. Sioux Falls leads with 323 active listings, followed by Aberdeen and Spearfish.

City	Active Listings	Median Asking Price, $/SF	Median Asking Rent, $/SF/Yr
Sioux Falls	323	$142	$16.25
Aberdeen	87	$97	$12.00
Spearfish	46	$143	—
Lead	30	—	—
Sturgis	24	—	—
Belle Fourche	14	—	—
Custer	11	—	—
Huron	11	$80	—
Deadwood	5	—	—

Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.

What is the median price per square foot for commercial property in South Dakota?

The median asking price for commercial property statewide is $122/SF as of November 2026, based on 312 of the 690 active for-sale listings that state a price per square foot. These are asking prices from live listings, not closed-sale prices.

How much does it cost to lease commercial space in South Dakota?

The median asking rent for commercial space statewide is $14.39/SF/Yr as of November 2026, based on 63 of the 277 active for-lease listings that state a rent per square foot. At that rate, 2,000 SF would cost about $2,400 a month in asking rent. Whether taxes, insurance and maintenance are included varies by listing, so compare lease terms on each one.

Which cities have the highest and lowest commercial property prices?

Spearfish and Sioux Falls have the highest median asking prices, at $143/SF and $142/SF, and Huron has the lowest at $80/SF. Rankings cover cities with at least 10 priced listings for each metric.

How do commercial property prices in South Dakota compare with neighboring states?

The statewide median asking price of $122/SF is below the $139/SF median of 6 neighboring states. Among them, Montana has the highest median asking price at $205/SF and Iowa the lowest at $100/SF. The median asking rent is $14.39/SF/Yr, compared with $15.25/SF/Yr in Minnesota, $14.00/SF/Yr in Iowa and $19.00/SF/Yr in Montana. The statewide median asking price is below the U.S. median of $178/SF.

Which markets in South Dakota have the most active listings?

Sioux Falls, Aberdeen, Spearfish, Lead and Sturgis have the most active commercial listings, with 323, 87, 46, 30 and 24 respectively. Realmo tracks 9 city markets here, each with its own market page.

Where does Realmo's market data come from?

Realmo compiles these figures from 690 active for-sale listings and 277 active for-lease listings in its public listing index. Statewide and neighboring-state figures refresh hourly and city figures daily; last updated 6 November 2026.

Methodology and Data Sources

Listing coverage: Asking figures come from 690 active for-sale and 277 active for-lease listings across South Dakota in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 312 for-sale and 63 for-lease listings that state a price or rent per square foot.
Asking prices and rents: Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
Neighboring states: Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
City markets: The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
Updates: Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.