HomeSouth DakotaPennington County
Pennington County, South Dakota: commercial real estate data.
Pennington County, South Dakota had an estimated 115,979 residents on July 1, 2024, up 6.2 percent since the 2020 census base of 109,229, across 2,777 square miles. County output reached $8.69 bn in 2024, 4,137 establishments operate here, and the SBA record carries 187 7(a) approvals worth $66.7 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Pennington County
How many people live in Pennington County
- Population, American Community Survey 2020-2024113,512
- Households46,370
- Average household size2.45
- Median household income$74,517
- Median age40.1
- Median gross rent$1,120 per month
- Median owner-occupied home value$302,200
- Home value to household income4.1 times
- Annual rent as a share of median income18.0 percent
- Adults 25 and over with a bachelor degree or higher34.6 percent
- Adults 25 and over with a graduate degree12.7 percent
- Adults 25 and over79,182
- Population under 1824,975
- Share under 1822.0 percent
- Population 65 and over22,870
- Share 65 and over20.1 percent
- Working age population, 18 to 6465,667
- Civilian labor force57,369
- Unemployment rate3.2 percent
- Labor force participation, adults 18 and over64.8 percent
- Rank by population among South Dakota counties2nd of 66
- Rank by population among US county-equivalents, Puerto Rico included551st of 3,222
Pennington County is the 2nd largest of 66 South Dakota counties by population. A median home costs 4.1 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 22.0 percent against 20.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Pennington County
Is Pennington County's population growing?
- Population, July 1, 2024115,979
- Census 2020 base population109,229
- Population change since the 2020 census base6.18 percent
- Population change, 2023 to 2024145
- Births, 20241,366
- Deaths, 20241,108
- Natural change, 2024258
- Net domestic migration, 2024-176
- Net international migration, 202450
- Total net migration, 2024-126
- Cumulative net domestic migration, 2021 to 20245,081
- Rank by growth among US county-equivalents386th of 3,144
The county has grown 6.18 percent since the 2020 census base. Births exceeded deaths in 2024 by more than net migration took away, so the population grew even though more people left than moved in.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Pennington County
Where are people moving to Pennington County from?
- Tax returns filed by households arriving5,391
- People arriving, from those returns9,701
- Tax returns filed by households leaving4,328
- Net household movement1,063
- Adjusted gross income arriving$431.1 m
- Net adjusted gross income movement$141.3 m
- Average income of an arriving household$79,958
- Average income of a leaving household$66,959
- Largest single originMeade County (609 households)
- Largest single destinationMeade County (574 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Meade County | 609 | 1,037 | $32.0 m |
| Lawrence County | 112 | 177 | $4.8 m |
| Custer County | 103 | 172 | $8.7 m |
| Maricopa County | 98 | 170 | $11.1 m |
| Minnehaha County | 97 | 157 | $8.4 m |
| Foreign - APO/FPO ZIPs | 81 | 165 | $4.7 m |
| Oglala Lakota County | 71 | 162 | $1.9 m |
| Clark County | 69 | 123 | $4.4 m |
Households arriving report $12,999 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Meade County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Pennington County
What is the Pennington County economy?
- County GDP, 2024$8.69 bn
- County GDP, 2023$8.23 bn
- GDP change, 2023 to 20245.6 percent
- GDP change over five years39.9 percent
- Rank by GDP among the South Dakota areas BEA publishes3rd of 66
- Rank by GDP among the US county areas BEA publishes495th of 3,127
- GDP per resident$76,541
Output grew 5.6 percent in the latest year and 39.9 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Pennington County
Employment by industry in Pennington County
- Covered employment, annual average62,114
- Establishments reporting5,799
- Average annual pay$57,286
- Average weekly wage$1,102
- Health care and social assistance, employment11,430
- Health care and social assistance, average annual pay$69,289
- Retail trade, employment8,654
- Retail trade, average annual pay$38,087
- Accommodation and food services, employment8,168
- Accommodation and food services, average annual pay$27,135
- Construction, employment4,812
- Construction, average annual pay$68,435
- Professional, scientific and technical services, employment2,926
- Other services, except public administration, employment2,739
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 11,430 | 531 | $69,289 |
| Retail trade | 8,654 | 553 | $38,087 |
| Accommodation and food services | 8,168 | 430 | $27,135 |
| Construction | 4,812 | 621 | $68,435 |
| Professional, scientific and technical services | 2,926 | 1,032 | $85,204 |
| Other services, except public administration | 2,739 | 398 | $47,914 |
| Manufacturing | 2,524 | 118 | $66,213 |
| Administrative and support and waste management services | 2,434 | 432 | $44,598 |
Health care and social assistance is the largest private sector at 11,430 jobs, 18.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Pennington County
How many businesses are in Pennington County?
- Establishments, all industries4,137
- Employment at those establishments52,402
- Annual payroll$2.68 bn
- Establishments per 1,000 residents36.4
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Pennington County
Building permits in Pennington County
- Housing units authorized by permit, 20241,183
- Declared construction value permitted$275.8 m
- Single family units authorized447
- Multifamily units authorized736
- Multifamily share of units62.2 percent
- Average declared value per unit$233,162
- Units authorized per 1,000 households25.5
Multifamily is 62.2 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Pennington County
SBA loans in Pennington County (7(a) and 504)
- 7(a) approvals recorded187
- 7(a) gross approval dollars$66.7 m
- Average 7(a) approval$356,650
- Median 7(a) approval$100,900
- 10th percentile approval$25,000
- 90th percentile approval$892,480
- Largest single approval$4,580,000
- Jobs reported supported, 7(a)1,709
- Jobs per approval9.1
- Distinct 7(a) lenders active31
- Distinct industries receiving approvals97
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer9.6 percent
- Loans on real estate terms18
- Loans on working capital terms, 120 months or shorter162
- Franchise loans18
- Franchise share of approvals9.6 percent
- Leading industry by approval countSnack and Nonalcoholic Beverage Bars (9)
- Most active lenderBlack Hills FCU (65)
- 504 approvals recorded150
- 504 gross approval dollars$103.9 m
- Average 504 approval$692,740
- Median 504 approval$457,000
- Distinct CDCs active3
- 504 jobs per approval7.6
- 504 jobs per million dollars approved11.0
- Most active CDCAlly Dakota Development, Inc. (122)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$170.6 m
The average approval of $356,650 sits well above the median of $100,900, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 9.6 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Pennington County
SBA loan default and charge-off rates in Pennington County
Do SBA loans in Pennington County get paid back?
- Loans with a final outcome recorded56
- Paid in full53
- Charged off3
- Charge-off rate on resolved loans5.4 percent
- Status: Exempt from disclosure111
- Status: Paid in full53
- Status: Cancelled17
- Status: Charged off3
- Status: Committed, not yet disbursed3
Of the 56 loans that have reached a final outcome, 5.4 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Pennington County
SBA lending by place in Pennington County
- Borrower cities with recorded lending7
- Rapid City, approvals165
- Box Elder, approvals10
- Hill City, approvals5
- Keystone, approvals3
- Hermosa, approvals2
- Wall, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Rapid City | 165 | $54,599,200 |
| Box Elder | 10 | $6,355,000 |
| Hill City | 5 | $968,100 |
| Keystone | 3 | $1,827,500 |
| Hermosa | 2 | $385,000 |
| Wall | 1 | $1,386,000 |
| Caputa | 1 | $1,172,700 |
Rapid City accounts for 165 approvals against 10 in Box Elder. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Pennington County
How large is Pennington County?
- Land area2,777 sq mi
- Rank by land area among South Dakota counties3rd of 66
- Width, east to west102.3 mi
- Height, north to south56.8 mi
- Geographies sharing a boundary7
- Residents per square mile of land41
- Establishments per square mile1.49
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Pennington County
Flood risk in Pennington County
- Participation of the county's own NFIP community Pennington County, unincorporated areasParticipating, community 460064
- Communities in the county in the NFIP Community Status Book9
- Of those, participating in the NFIP6
- NFIP participation rate66.7 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class1
- Radon levels in Pennington County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Pennington County (community 460064), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Pennington County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 66.7 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Pennington County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Pennington County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024113,512
- Households46,370
- Average household size2.45
- Median household income$74,517
- Median age40.1
Common questions
Pennington County questions, answered from the record.
How many people live in Pennington County, South Dakota?
The Census Bureau estimates 115,979 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 113,512, in 46,370 households, ranking 2nd of 66 South Dakota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Pennington County's population growing?
The population has grown 6.18 percent since the 2020 census base of 109,229, to 115,979 on July 1, 2024. In 2024 there were 1,366 births against 1,108 deaths, with net migration of -126. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Pennington County?
$74,517. The median owner-occupied home is valued at $302,200, which is 4.1 times income, and median gross rent is $1,120 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Pennington County?
4,137 establishments, employing 52,402 people with an annual payroll of $2.68 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Pennington County?
Health care and social assistance is the largest private sector at 11,430 jobs, 18.4 percent of covered employment. Covered employment averages 62,114 jobs at an average annual pay of $57,286, or $1,102 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Pennington County?
187 7(a) approvals totaling $66.7 m since FY2020, across 31 lenders, with a median approval of $100,900, plus 150 504 approvals worth $103.9 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Pennington County get paid back?
Of the 56 loans that have reached a final outcome, 53 were paid in full and 3 charged off, a charge-off rate of 5.4 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Pennington County?
1,183 housing units were authorized by permit in 2024, with a declared construction value of $275.8 m. Multifamily was 62.2 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Pennington County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Pennington County come from?
The largest single origin is Meade County, with 609 households. Arriving households report an average income of $79,958 against $66,959 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Pennington County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Pennington County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Pennington County
Cities and places in Pennington.
15 Census places lie wholly or partly in Pennington County. All 15 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Rapid City | city | 77,946 | 165 | Wholly in this county |
| Box Elder | city | 12,902 | 10 | 89.8 percent here, 10.2 percent Meade County |
| Rapid Valley | CDP | 6,975 | None recorded | Wholly in this county |
| Colonial Pine Hills | CDP | 2,609 | None recorded | Wholly in this county |
| Green Valley | CDP | 1,642 | None recorded | Wholly in this county |
| Ashland Heights | CDP | 1,105 | None recorded | Wholly in this county |
| Hill City | city | 834 | 5 | Wholly in this county |
| Johnson Siding | CDP | 704 | None recorded | Wholly in this county |
| Wall | town | 622 | 1 | Wholly in this county |
| New Underwood | city | 509 | None recorded | Wholly in this county |
| Hermosa | town | 353 | 2 | 18.7 percent here, 81.3 percent Custer County |
| Keystone | town | 336 | 3 | Wholly in this county |
| Wasta | town | 70 | None recorded | Wholly in this county |
| Quinn | town | 48 | None recorded | Wholly in this county |
| Caputa | CDP | 27 | 1 | Wholly in this county |