The 10 Most Expensive Places To Live In South Dakota For 2022


We used science and data to determine which cities in South Dakota that will put a big dent in your wallet.

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Editor’s Note: We updated this article for 2022. This is our ninth time ranking the most expensive places to live in South Dakota.

Everyone wants a home that mixes affordability with comfort and South Dakota does this very well. Families love the Mount Rushmore State's beaches, midlands, and mountains as tourists before moving here and calling it home.

But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.

These are the places in South Dakota that cost a pretty penny -- the most expensive cities in the state.

After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in South Dakota for 2022.

So where is the most expensive place to live in South Dakota? That would be Spearfish.
the 2016-2020 American Community Survey for the 64 places in South Dakota with more than 1,000 people.

Here are the 10 most expensive places to live in South Dakota for 2022:

  1. Spearfish
  2. Box Elder
  3. Rapid City
  4. North Sioux City
  5. Vermillion
  6. Sturgis
  7. Lead
  8. Deadwood
  9. Brookings
  10. Sioux Falls

What's the most expensive place to live in South Dakota? Well, HomeSnacks crunched the numbers and discovered that Spearfish is the most expensive place to live in South Dakota.

So hopefully Britton (the cheapest place to live in South Dakota) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about South Dakota and the most expensive cities in the country:

The 10 Most Expensive Places To Live In South Dakota For 2022

1. Spearfish

Spearfish, SD

Overall SnackAbility

8
/10

Population: 11,702
Rank Last Year: 1 (Down 1)
Home Price To Income Ratio: 4.5x (2nd most expensive)
Income To Rent Ratio: 61.0x (9th most expensive)
More on Spearfish: Real Estate | Data | Photos

The median income in Spearfish comes in at $50,072 and the median home value is $223,200 for 2022.

2. Box Elder

Box Elder, SD

Overall SnackAbility

6
/10

Population: 9,937
Rank Last Year: 5 (Up 2)
Home Price To Income Ratio: 3.3x (12th most expensive)
Income To Rent Ratio: 53.3x (2nd most expensive)
More on Box Elder: Real Estate | Data | Photos

The median income in Box Elder comes in at $56,429 and the median home value is $186,000 for 2022.

3. Rapid City

Rapid City, SD

Overall SnackAbility

5
/10

Population: 76,541
Rank Last Year: 2 (Down 2)
Home Price To Income Ratio: 3.6x (6th most expensive)
Income To Rent Ratio: 62.9x (13th most expensive)
More on Rapid City: Real Estate | Data | Photos

The median income in Rapid City comes in at $53,760 and the median home value is $194,100 for 2022.

4. North Sioux City

North Sioux City, SD

Overall SnackAbility

7
/10

Population: 2,868
Rank Last Year: 9 (Up 4)
Home Price To Income Ratio: 3.5x (9th most expensive)
Income To Rent Ratio: 59.7x (7th most expensive)
More on North Sioux City: Real Estate | Data | Photos

The median income in North Sioux City comes in at $52,964 and the median home value is $183,600 for 2022.

5. Vermillion

Vermillion, SD

Overall SnackAbility

7
/10

Population: 10,852
Rank Last Year: 3 (Down 3)
Home Price To Income Ratio: 3.6x (4th most expensive)
Income To Rent Ratio: 60.2x (8th most expensive)
More on Vermillion: Real Estate | Data | Photos

The median income in Vermillion comes in at $43,750 and the median home value is $158,800 for 2022.

6. Sturgis

Sturgis, SD

Overall SnackAbility

6
/10

Population: 6,914
Rank Last Year: 12 (Up 5)
Home Price To Income Ratio: 3.6x (5th most expensive)
Income To Rent Ratio: 62.1x (11th most expensive)
More on Sturgis: Real Estate | Data | Photos

The median income in Sturgis comes in at $43,679 and the median home value is $158,400 for 2022.

7. Lead

Lead, SD

Source: Public domain
Overall SnackAbility

8
/10

Population: 2,979
Rank Last Year: 20 (Up 12)
Home Price To Income Ratio: 3.6x (7th most expensive)
Income To Rent Ratio: 61.4x (10th most expensive)
More on Lead: Real Estate | Data | Photos

The median income in Lead comes in at $44,278 and the median home value is $157,900 for 2022.

8. Deadwood

Deadwood, SD

Source: Wikipedia User |
Overall SnackAbility

8
/10

Population: 1,584
Rank Last Year: 11 (Up 3)
Home Price To Income Ratio: 3.9x (3rd most expensive)
Income To Rent Ratio: 67.7x (17th most expensive)
More on Deadwood: Real Estate | Data | Photos

The median income in Deadwood comes in at $41,654 and the median home value is $162,500 for 2022.

9. Brookings

Brookings, SD

Overall SnackAbility

8
/10

Population: 24,479
Rank Last Year: 6 (Down 4)
Home Price To Income Ratio: 3.5x (8th most expensive)
Income To Rent Ratio: 70.6x (23rd most expensive)
More on Brookings: Real Estate | Data | Photos

The median income in Brookings comes in at $53,845 and the median home value is $187,100 for 2022.

10. Sioux Falls

Sioux Falls, SD

Overall SnackAbility

8
/10

Population: 180,927
Rank Last Year: 7 (Down 4)
Home Price To Income Ratio: 3.3x (11th most expensive)
Income To Rent Ratio: 73.7x (26th most expensive)
More on Sioux Falls: Real Estate | Data | Photos

The median income in Sioux Falls comes in at $61,738 and the median home value is $205,100 for 2022.

Methodology: How We Determined The Most Expensive Places To Live In The Mount Rushmore State For 2022

Map Of The Cheapest Places To Live In South Dakota
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2016-2020 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in South Dakota to figure out which is the most expensive.

What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 64 places in South Dakota that have more than 1,000 people.

The place with the highest cost of living in South Dakota according to the data is Spearfish. You can download the data here.

Summary: Taking A Chunk Out Of Your Paycheck In South Dakota For 2022

Well there you have it, the places in South Dakota that have the highest cost of living, with Spearfish ranking as the most expensive city in the Mount Rushmore State.

Here's a look at the most affordable cities in South Dakota according to the data:

  1. Britton
  2. Lemmon
  3. De Smet

For more South Dakota reading, check out:

Detailed List Of The Most Expensive Cities In South Dakota

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 Spearfish 5.33 11,702 4.5x 61.0x
2 Box Elder 8.67 9,937 3.3x 53.3x
3 Rapid City 9.33 76,541 3.6x 62.9x
4 North Sioux City 9.67 2,868 3.5x 59.7x
5 Vermillion 11.33 10,852 3.6x 60.2x
6 Sturgis 13.0 6,914 3.6x 62.1x
7 Lead 13.67 2,979 3.6x 61.4x
8 Deadwood 13.67 1,584 3.9x 67.7x
9 Brookings 14.0 24,479 3.5x 70.6x
10 Sioux Falls 15.0 180,927 3.3x 73.7x
11 Volga 15.0 1,948 3.2x 66.4x
12 Watertown 15.67 22,249 3.4x 68.6x
13 Mitchell 20.0 15,599 3.3x 63.4x
14 Harrisburg 20.67 6,420 2.7x 77.6x
15 Hot Springs 21.33 3,498 2.8x 56.5x
16 Summerset 24.0 2,607 2.7x 85.3x
17 Belle Fourche 25.0 5,628 2.7x 62.8x
18 Aberdeen 25.33 28,315 3.0x 84.4x
19 Dell Rapids 25.67 3,678 2.7x 84.5x
20 Elk Point 26.33 2,102 2.7x 80.1x
21 Chamberlain 27.33 2,549 3.0x 82.6x
22 Custer 30.0 2,314 2.5x 72.3x
23 Tea 30.33 5,714 2.5x 92.6x
24 Yankton 30.67 14,619 2.9x 86.2x
25 Brandon 31.0 10,030 2.6x 103.4x
26 Lennox 31.5 2,432 2.7x 82.3x
27 Pierre 32.67 13,908 2.6x 93.3x
28 Platte 33.17 1,290 2.8x 86.2x
29 Baltic 34.33 1,169 2.2x 85.3x
30 Garretson 34.33 1,493 2.6x 86.0x
31 Wagner 36.0 1,566 2.6x 75.2x
32 Gettysburg 36.33 1,273 2.3x 80.1x
33 Sisseton 37.67 2,539 2.3x 67.8x
34 Huron 38.0 13,289 2.2x 68.9x
35 Crooks 38.0 1,408 2.0x 93.5x
36 Miller 38.67 1,366 2.8x 87.9x
37 Beresford 38.83 2,371 2.5x 89.6x
38 Gregory 39.33 1,444 2.3x 75.1x
39 Madison 40.67 7,249 2.3x 82.6x
40 Salem 42.0 1,183 1.9x 68.2x
41 Hartford 42.0 3,300 2.0x 96.5x
42 Tyndall 43.0 1,155 2.1x 73.5x
43 Fort Pierre 43.33 2,487 2.1x 88.9x
44 Arlington 43.33 1,007 2.0x 76.6x
45 Mobridge 43.67 3,303 1.9x 66.2x
46 Canton 44.17 3,499 2.3x 99.6x
47 Worthing 44.33 1,046 1.9x 90.1x
48 Clark 44.67 1,233 2.0x 67.9x
49 Webster 45.0 1,681 2.3x 83.2x
50 Flandreau 45.0 2,425 2.2x 83.7x
51 Eagle Butte 45.33 1,458 1.5x 55.6x
52 Mission 45.67 1,408 1.6x 58.9x
53 Winner 46.0 2,821 2.0x 81.1x
54 Milbank 46.33 3,137 2.3x 109.5x
55 Groton 50.0 1,842 1.8x 87.8x
56 Freeman 50.33 1,641 1.9x 81.9x
57 Springfield 50.67 2,110 1.9x 81.2x
58 Redfield 50.67 2,496 1.9x 80.6x
59 Clear Lake 52.33 1,503 2.0x 111.3x
60 Parkston 52.67 1,756 2.0x 109.9x
61 Ipswich 56.0 1,021 1.8x 91.1x
62 De Smet 56.33 1,041 1.9x 167.9x
63 Lemmon 59.0 1,288 1.5x 85.8x
64 Britton 59.33 1,339 1.5x 97.7x

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About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.