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These days, finding an affordable place to live in the South Dakota area can be challenging. Home prices in South Dakota are now at a median cost of $268,202, lower than the the United States average of $419,293.
The average cost of rent is $1,000/mo in South Dakota, primarily driven by the current value of real estate in the South Dakota area. In South Dakota, 31.44% of households rent, and 45.62% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in South Dakota is $6,702 per month. Households that rent pay about 14.92% of their income on rent here. South Dakota’s most expensive areas are in the southeastern regions, while the cheapest areas are in the southwestern parts of the state.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby States
States with Similar Populations
- California: higher priced homes
- Colorado: higher priced homes
- Connecticut: higher priced homes
- Delaware: higher priced homes
- District of Columbia: higher priced homes
- Florida: higher priced homes
- Georgia: higher priced homes
- Arkansas: less expensive homes
- Puerto Rico: less expensive homes
- New Jersey: higher priced homes
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