HomeSouth DakotaPennington County
Pennington County, South Dakota: commercial real estate data.
Pennington County, South Dakota has a population of 113,512 across 2,777 square miles, up 6.2 percent since the 2020 census base. 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.
123 sourced county values · tier FULL · 11 sections
Pennington County
How many people live in Pennington County
- Population113,512
- 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-equivalents551st
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 an affordable ownership market 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 growing
- Population change since the 2020 census base6.18 percent
- Census 2020 base population109,229
- 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
The county has grown 6.18 percent since the 2020 census base. Births exceeded deaths in 2024 but more people left than arrived, so the population is being sustained internally rather than attracting.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Pennington County
Where people moving to Pennington County come from
- Tax returns filed by households arriving5,391
- People arriving, from those returns9,701
- Adjusted gross income arriving$431.1 m
- Net adjusted gross income movement$0
- Average income of an arriving household$79,958
- Largest single originPennington County Non-migrants (46,782 households)
- Largest single destination (46,782 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Pennington County Non-migrants | 46,782 | 90,773 | $4.65 bn |
| Other flows - Different State | 2,776 | 5,071 | $242.3 m |
| Other flows - West | 929 | 1,683 | $77.8 m |
| Other flows - Midwest | 841 | 1,536 | $82.0 m |
| Other flows - South | 768 | 1,439 | $63.8 m |
| Meade County | 609 | 1,037 | $32.0 m |
| Other flows - Northeast | 238 | 413 | $18.7 m |
| Other flows - Same State | 233 | 389 | $12.3 m |
The largest single source of arrivals is Pennington County Non-migrants, 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 the Pennington County economy runs on
- 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 South Dakota counties3rd
- Rank by GDP among US county-equivalents495th
- 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
Who employs people in Pennington County
- Covered employment, annual average62,114
- Establishments reporting5,799
- Average annual pay$57,286
- Average weekly wage$1,102
- Sector 62, employment11,430
- Sector 62, average annual pay$69,289
- Sector 44-45, employment8,654
- Sector 44-45, average annual pay$38,087
- Sector 72, employment8,168
- Sector 72, average annual pay$27,135
- Sector 23, employment4,812
- Sector 23, average annual pay$68,435
- Sector 54, employment2,926
- Sector 81, employment2,739
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 11,430 | 531 | $69,289 |
| Sector 44-45 | 8,654 | 553 | $38,087 |
| Sector 72 | 8,168 | 430 | $27,135 |
| Sector 23 | 4,812 | 621 | $68,435 |
| Sector 54 | 2,926 | 1,032 | $85,204 |
| Sector 81 | 2,739 | 398 | $47,914 |
| Sector 31-33 | 2,524 | 118 | $66,213 |
| Sector 56 | 2,434 | 432 | $44,598 |
The largest sector is the biggest private employer group at 11,430 jobs, 18.4 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Pennington County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
Pennington County
What is being built in Pennington County
- Housing units authorised by permit, 20241,183
- Declared construction value permitted$275.8 m
- Single family units authorised447
- Multifamily units authorised736
- Multifamily share of units62.2 percent
- Average declared value per unit$233,162
- Units authorised per 1,000 households25.5
Multifamily is 62.2 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Pennington County
How much SBA lending happens in Pennington County
- 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$956,200
- 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$472,000
- Distinct CDCs active3
- 504 jobs per approval7.6
- 504 jobs per million dollars approved11.0
- Most active CDCAlly Dakota Development, Inc. (122)
- 7(a) share of SBA approvals55.5 percent
- Combined SBA approval dollars$170.6 m
The average approval of $356,650 sits well above the median of $100,900, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually 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
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.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Pennington County
Which parts of Pennington County get the lending
- Places in the county with recorded lending7
- RAPID CITY, approvals165
- BOX ELDER, approvals10
- Hill City, approvals5
- KEYSTONE, approvals3
- Hermosa, approvals2
- WALL, approvals1
| Place | 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 big 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 boundary6
- 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.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
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.
- Population113,512
- 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?
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 growing?
The population has grown 6.18 percent since the 2020 census base. 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 there 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 the average wage in Pennington County?
Average annual pay is $57,286, or $1,102 a week, across 62,114 covered jobs. 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 totalling $66.7 m since FY2020, across 31 lenders, with a median approval of $100,900, plus 150 504 approvals worth $103.9 m. 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.
What is being built in Pennington County?
1,183 housing units were authorised 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 Pennington County Non-migrants, with 46,782 households. Arriving households report an average income of $79,958 against null 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.