The story of this market
The typical home in ZIP 57438 sells for about $136,400, or $85 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 120 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $791 a month.
ZIP 57438 — Faulkton
The housing market in 57438 is characterized by low inventory and stable, modest price growth consistent with a rural agricultural economy. Sales volume remains low, reflecting a tight market where properties are held for long durations. The market is driven by local demand rather than speculative investment.
This ZIP is best suited for families and individuals seeking a quiet, affordable rural lifestyle with a strong sense of community and low cost of living.
Median prices moved up 2.1% year over year.
Homes spend a median of 120 days on market with 7.5 months of supply — a slower-moving market.
5% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 9.8% · poverty 21.3% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 57438, Faulk County SD
Crime rates in Faulkton are significantly lower than the national average, with the area experiencing very low levels of violent and property crime.
The area is served by the Faulkton School District, which is generally characterized by small class sizes and a strong community-focused educational environment.
The region faces moderate risks from severe thunderstorms and winter weather, with standard insurance coverage typically available for residential properties.
The local economy is primarily driven by agriculture and small-scale local services, with limited large-scale industrial or commercial development momentum.
Property taxes are assessed at the county level in Faulk County based on market value, with standard state-level exemptions for owner-occupied primary residences.
Commuting is primarily by private vehicle, with most residents working within the immediate Faulkton area or nearby rural communities.
Local amenities include public parks, community sports facilities, and access to regional outdoor activities like hunting and fishing.
The rental market is limited in depth, with low vacancy pressure and a high proportion of long-term, non-investor-owned housing stock.
The economy is anchored by the agricultural sector, including crop production and livestock, supported by local retail and public services.
Transportation is heavily reliant on personal vehicles, with access provided by state highways connecting to regional hubs.
There are no major large-scale commercial or residential developments currently under construction in the ZIP code.
The Faulk County Assessor manages property valuations, focusing on annual adjustments to reflect current market conditions in the rural tax base.
Parcels are subject to standard county and school district levies, with no significant MUD or PID special districts reported.
Property insurance remains stable, though premiums are influenced by regional exposure to severe weather events common in the Great Plains.
Net domestic migration is generally stable, with modest fluctuations typical of rural South Dakota counties.
South Dakota follows a judicial foreclosure process, providing a standard redemption period for homeowners.
Sellers are required to provide a property condition disclosure statement to buyers, covering known material defects.
Data retrieved from data.census.gov ZCTA 57438 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Central community green space with recreational facilities.
Local historical site preserving regional heritage.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.