The Most Affordable Neighborhoods in Fayette, SD by Home Value

These days, finding an affordable place to live in the Fayette area can be challenging. Home prices in Fayette are now at a median cost of $122,696, lower than the South Dakota average of $268,202.

The average cost of rent is $916/mo in Fayette, primarily driven by the current value of real estate in the Fayette area. In Fayette, 18.05% of households rent, and 68.39% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Fayette is $5,716 per month. Households that rent pay about 16.03% of their income on rent here. Fayette’s most expensive areas are in the northwestern 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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