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These days, finding an affordable place to live in the Spring Lake area can be challenging. Home prices in Spring Lake are now at a median cost of $231,170, lower than the South Dakota average of $268,202.
The average cost of rent is $680/mo in Spring Lake, primarily driven by the current value of real estate in the Spring Lake area. In Spring Lake, 24.47% of households rent, and 76.77% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Spring Lake is $6,143 per month. Households that rent pay about 11.07% of their income on rent here. Spring Lake’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.
Nearby Cities
- Seneca, SD: less expensive homes
- Roy, SD: less expensive homes
- Highmore, SD: less expensive homes
- Owattonna, SD: less expensive homes
- Lebanon, SD: less expensive homes
- Holabird, SD: equally priced homes
- Onida, SD: equally priced homes
- Agar, SD: higher priced homes
- Bramhall, SD: less expensive homes
- Lucas, SD: less expensive homes
Cities with Similar Populations
- Rodarte, NM: less expensive homes
- New Cypress, KY: less expensive homes
- New Moore, TX: less expensive homes
- Newark, SD: less expensive homes
- Newville, CA: higher priced homes
- Niarada, MT: higher priced homes
- Nichols, KY: less expensive homes
- Nicodemus, KS: less expensive homes
- Nine Mile, MI: less expensive homes
- Nomini Grove, VA: less expensive homes
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