Market Overview
Home Prices in New Underwood, SD
The median home value in New Underwood, SD is $453,456 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.9% compared to a year ago and up 5.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in New Underwood are priced11% above average. New Underwood is part of the Rapid City, SD metro area.
Over the past five years, New Underwood home values have risen by approximately56.7%, reflecting strong long-term appreciation in this market.
Price History
New Underwood Home Price Trend
City Comparison
New Underwood vs. National Median
At $453,456, homes in New Underwood cost 11% above the national median of $410,000. Buyers in New Underwood should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in New Underwood?
20% Down Payment
$90,691
on $453,456
Monthly P&I
$2,365/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,004/mo
incl. taxes & insurance
Income Needed
$120,160
gross annual (30% rule)
10% Down Option
$45,346
+ PMI applies
Loan Amount (20% dn)
$362,765
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 New Underwood, SD?
The median home value in New Underwood is $453,456 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.9% year-over-year.
How much have home prices changed in New Underwood?
Over the past year, home values in New Underwood have increased by 8.9%. Over five years, prices have risen approximately 56.7%.
How much do I need to earn to buy a home in New Underwood?
To comfortably afford the median home price of $453,456 with a 20% down payment ($90,691) at today's rates (6.8%), you'd need a gross annual income of approximately $120,160. This assumes keeping total housing costs at or below 30% of gross income.
How does New Underwood compare to the national average home price?
The national median home value is approximately $410,000. At $453,456, homes in New Underwood are 11% above the national average.
What metro area is New Underwood part of?
New Underwood is part of the Rapid City, SD metropolitan area. Home prices and market conditions can vary across the broader metro region.