Vermillion, SD

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Vermillion short-term rental market based on reliable data.

Listings

16 / 41

Reliable / Active

Cap Rate

10%

Middle-Earners Gross Yield

Revenue

$26,815

Middle-Earners Revenue

Occupancy

51%

Middle-Earners Occupancy

Home Value

$276,547

Median Home Sale Price

Top Earners

$44,279

Top-Earners Revenue

Vermillion

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Vermillion.

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B

Generally Investor friendly

Vermillion Regulations

City permits STRs across most districts with no caps, but requires rental registration, biennial inspections, and building permits for any work; operating as a bed-and-breakfast also triggers a conditional use permit, creating moderate permitting, fees and inspections.

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About Vermillion

Vermillion is a small, lively college town in southeastern South Dakota, serving as the seat of Clay County and the home of the University of South Dakota. With a population of roughly 10,000 to 11,000 residents, the community has a youthful, energetic character shaped by its university population, while still maintaining the look and pace of a traditional Midwestern river town. Vermillion is best known as a regional hub for higher education, arts, and culture along the upper Missouri River, and it serves as a convenient gateway to the riverfront landscapes of southeast South Dakota and the nearby Iowa–Nebraska border region. The nearest major city is Sioux Falls, which sits about 90 miles to the north and is roughly a 90-minute drive via Interstate 29.

One of Vermillion's most distinctive draws is the National Music Museum, located on the University of South Dakota campus. The museum houses one of the largest and most varied collections of musical instruments in the world, with pieces ranging from rare European Renaissance and Baroque instruments to historic American instruments and instruments from Asia, Africa, and beyond. Visitors can explore rotating exhibits and the museum's renowned collection of guitars, violins, and brass instruments, all within walking distance of Vermillion's downtown.

Just a few miles north of town, Spirit Mound Historic Prairie offers a quiet escape into the tallgrass prairie of the Missouri River valley. The site, associated with the Lewis and Clark expedition and now protected as a National Historic Landmark, features interpretive trails, scenic overlooks, and a peaceful setting for walking and birdwatching. It is a short drive from Vermillion and provides a striking contrast to the town's campus-centered activity.

The Missouri River itself runs just south of Vermillion, and a drive of roughly an hour brings visitors to the Lewis and Clark Lake area near Yankton, South Dakota. The reservoir and surrounding recreation areas, anchored by Gavins Point Dam, offer boating, fishing, camping, and shoreline hiking along the South Dakota–Nebraska border. This stretch of the Missouri is one of the more popular outdoor recreation corridors in the region.

For short-term-rental investors, Vermillion offers a steady rhythm of demand driven by university events, prospective-student visits, alumni weekends, and conferences, complemented by seasonal travel tied to the Missouri River and prairie landscapes. Its compact size, walkable campus-adjacent core, and proximity to both Sioux Falls and the river-country recreation areas make it a flexible base for guests whose interests range from collegiate cultural life to quiet weekends in the surrounding natural settings.

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