Vermillion, SD
Vermillion, SD landlord and rental property insurance
Coverage for rental homes and 2–4 unit buildings in Vermillion, with local Census housing data. A quote is not a binder.
Census estimates put Vermillion's renter-occupied share at 58%, or roughly 2,500 of 4,312 occupied homes. Compared with 31% across South Dakota, that is above average, and it tells you a lot about the local rental stock owners are insuring.
Vermillion at a glance for landlords
| Measure | Vermillion | South Dakota |
|---|---|---|
| Renter-occupied homes | 58% (2,500) | 31% |
| Median owner-occupied home value | $219,000 | $257,400 |
| Median gross rent | $764/mo | $946/mo |
| Median year structure built | 1978 | 1980 |
| Homes in 2–4 unit buildings | 13% | 5% |
| Single-family homes (detached or attached) | 44% | 71% |
Figures from the U.S. Census Bureau (ACS 2020–2024 five-year estimates; 2024 population estimates).
What home values in Vermillion mean for your dwelling limit
Vermillion's median home value, roughly $219,000, gives a rough sense of what rentals here are worth; the state median is $257,400. For insurance, ask for a replacement-cost estimate on your specific building.
NAIC data for 2023 shows an average South Dakota dwelling-fire premium of $597 in the $200,000–$224,999 coverage band, which brackets Vermillion's median value; across all coverage amounts the state average was $524. Treat it as background, since landlord pricing depends on the building and occupancy.
Protecting rental income in Vermillion
The Census median gross rent for Vermillion, $764 per month, is a reasonable starting point for fair rental value. At that rate, 12 months is about $9,168 per unit.
How old Vermillion's housing is, and why it matters
A median build year of 1978 puts much of Vermillion's rental stock in the 1960s–70s range. Some homes from that period used aluminum branch wiring or now-obsolete panels, so disclose upgrades clearly.
What Vermillion landlords typically own
Small multi-family buildings are a real part of Vermillion's housing at roughly 13% of units. If you own a duplex, triplex, or fourplex here, read our guide to 2–4 unit buildings.
Comparing Vermillion to neighboring cities
In Sioux Falls, 40% of occupied homes are rented and the median value is $292,400. For comparison, Rapid City comes in at 37% rented and $299,400 median value, with median rent of $1,109. For comparison, Aberdeen comes in at 38% rented and $217,300 median value, with median rent of $762. By renter share, Vermillion is number 1 on our list of 15 South Dakota cities. Manufactured and mobile homes make up about 6% of Vermillion's housing, and many dwelling programs underwrite those separately. Roughly 36% of homes in Vermillion are in buildings of five or more units, the point where most owners move to commercial apartment policies.
Vermillion weather exposures that affect landlord claims
For rentals in Vermillion, the hazards that most often shape South Dakota landlord coverage include snow load on roofs and grassland and Black Hills wildfire. Ask how your policy handles each, and whether any separate deductible applies.
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 Vermillion rental
- Mortgage company details, if financed
- Desired liability limit and loss-of-rents amount
- Street address in Vermillion and number of units
- When the building went up and when the roof was last replaced
- Occupancy: long-term lease, month-to-month, short-term, or vacant
- Electrical, plumbing, and heating update years
- Current insurer and any losses in five years
Request a Vermillion landlord quote
Vermillion landlord insurance questions
What share of Vermillion homes are rentals?
About 58% of occupied homes in Vermillion, roughly 2,500 households, are renter-occupied according to the 2020–2024 American Community Survey.
Is landlord insurance required in Vermillion?
South Dakota law does not require landlord insurance, but lenders usually require property coverage, and many leases, HOAs, and property managers require liability coverage.
How much does landlord insurance cost in Vermillion?
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.