Tea, SD
Rental property insurance for Tea landlords
Coverage for rental homes and 2–4 unit buildings in Tea, with local Census housing data. A quote is not a binder.
Census estimates put Tea's renter-occupied share at 20%, or roughly 440 of 2,171 occupied homes. Compared with 31% across South Dakota, that is below average, and it tells you a lot about the local rental stock owners are insuring.
Census snapshot: Tea housing
| Measure | Tea | South Dakota |
|---|---|---|
| Renter-occupied homes | 20% (440) | 31% |
| Median owner-occupied home value | $351,100 | $257,400 |
| Median gross rent | $1,220/mo | $946/mo |
| Median year structure built | 2004 | 1980 |
| Homes in 2–4 unit buildings | 4% | 5% |
| Single-family homes (detached or attached) | 85% | 71% |
Figures from the U.S. Census Bureau (ACS 2020–2024 five-year estimates; 2024 population estimates).
What home values in Tea mean for your dwelling limit
The median owner-occupied home in Tea is valued at about $351,100, higher than the South Dakota median of $257,400. Market value includes land, so it is only a starting point: your dwelling limit should reflect what it would cost to rebuild the structure.
For context, the NAIC reported that South Dakota dwelling-fire policies insuring $350,000 to $399,999 averaged $883 a year in 2023, against a statewide dwelling-fire average of $524. Those are owner-occupied dwelling-form figures, not landlord quotes.
Fair rental value coverage for Tea units
Median gross rent in Tea is about $1,220 a month. A year of lost rent at that level is roughly $14,640 per unit, a useful yardstick when you choose fair rental value coverage.
Older vs. newer rentals in Tea
Tea has relatively new housing, with a median year built of 2004. Newer construction often prices well, though insurers still ask about roof material and any prior water claims.
Types of rental property in Tea
About 85% of homes in Tea are single-family, so most local landlords insure one house at a time. A DP-3 form with liability and loss of rents is the usual starting point; our rental property insurance page explains the parts.
Tea next to other South Dakota rental cities
Nearby Harrisburg reports 22% renter households and a $312,200 median home value, so proportionally more renters than Tea. Sioux Falls has a renter share of 40% with homes valued around $292,400 at the median. For comparison, Rapid City comes in at 37% rented and $299,400 median value, with median rent of $1,109. By renter share, Tea is number 14 on our list of 15 South Dakota cities. Buildings with five or more units hold about 11% of Tea's homes; those generally need commercial apartment coverage rather than dwelling forms.
Storm and hazard considerations in Tea
Typical South Dakota property risks such as blizzards and extreme cold that freeze pipes and snow load on roofs affect owners in Tea and the rest of Lincoln County. Flood and earthquake are excluded from standard dwelling forms and need their own coverage.
Hazard themes reflect FEMA’s National Risk Index and NOAA’s Storm Events Database; check the index for your specific county.
Requesting coverage for a Tea rental
- Desired liability limit and loss-of-rents amount
- Property location in Tea and unit count
- Year built and roof age
- How it is occupied today, including any vacancy or short-term use
- Dates of wiring, plumbing, and HVAC upgrades
- Current insurer and any losses in five years
- Mortgage company details, if financed
Questions from Tea rental owners
What share of Tea homes are rentals?
About 20% of occupied homes in Tea, roughly 440 households, are renter-occupied according to the 2020–2024 American Community Survey.
Do Tea landlords have to carry insurance?
No South Dakota law mandates it for Tea owners, though lenders, HOAs, and property managers commonly require it.
How much does landlord insurance cost in Tea?
It depends on the building, coverage, and deductible. For background, the NAIC reported a 2023 South Dakota dwelling-fire average of $524; see our South Dakota page for the full table.
Other South Dakota cities
Landlord insurance in South Dakota · Cost by state
Last updated October 15, 2026. Sources and method: how we research.