Market Overview
Home Prices in Lake Preston, SD
The median home value in Lake Preston, SD is $265,530 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.4% compared to a year ago and up 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Preston are priced35% below average.
Over the past five years, Lake Preston home values have risen by approximately43.8%, reflecting strong long-term appreciation in this market.
Price History
Lake Preston Home Price Trend
2020
$164,001
$164K
—
2021
$184,610
$185K
+12.6%
2022
$202,906
$203K
+9.9%
2023
$233,737
$234K
+15.2%
2024
$244,014
$244K
+4.4%
2025
$247,308
$247K
+1.3%
2026
$265,530
$266K
+7.4%
City Comparison
Lake Preston vs. National Median
🏠 Lake Preston
$265,530
National Median
$410,000
At $265,530, homes in Lake Preston cost 35% below the national median of $410,000. This makes Lake Preston a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lake Preston?
20% Down Payment
$53,106
on $265,530
Monthly P&I
$1,385/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,759/mo
incl. taxes & insurance
Income Needed
$70,360
gross annual (30% rule)
10% Down Option
$26,553
+ PMI applies
Loan Amount (20% dn)
$212,424
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lake Preston, SD?
The median home value in Lake Preston is $265,530 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.4% year-over-year.
How much have home prices changed in Lake Preston?
Over the past year, home values in Lake Preston have increased by 7.4%. Over five years, prices have risen approximately 43.8%.
How much do I need to earn to buy a home in Lake Preston?
To comfortably afford the median home price of $265,530 with a 20% down payment ($53,106) at today's rates (6.8%), you'd need a gross annual income of approximately $70,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Preston compare to the national average home price?
The national median home value is approximately $410,000. At $265,530, homes in Lake Preston are 35% below the national average.