The Most Affordable Neighborhoods in Cherry Creek, SD by Home Value

These days, finding an affordable place to live in the Cherry Creek area can be challenging. Home prices in Cherry Creek are now at a median cost of $98,300, lower than the South Dakota average of $268,202.

The average cost of rent is $743/mo in Cherry Creek, primarily driven by the current value of real estate in the Cherry Creek area. In Cherry Creek, 51.33% of households rent, and 81.28% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Cherry Creek is $3,691 per month. Households that rent pay about 20.13% of their income on rent here. Cherry Creek’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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