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Old Elm Spring Colony

Learn about the people, housing, costs and businesses in Old Elm Spring Colony, South Dakota

Median Home$157,200
Median Rent$724/month
Population114
Leading IndustriesEducation · Construction · Agriculture & Mining4% education
Home Value Growth⬆⬆+13.8% over 2 years
Retirees24% of residentsslightly above average
Homeowners79% of occupied units
NotableVeteran Community9% of residents · top 22% nationally
NotableAffordable Market$157k median home · lower cost than 71% of the country
Old Elm Spring Colony
SD

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Old Elm Spring Colony?

As of today, the 30-year fixed mortgage rate for Old Elm Spring Colony is approximately 6.998% (7.038% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Old Elm Spring Colony?

The median home value in Old Elm Spring Colony is $157k. The median monthly rent is $724. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Old Elm Spring Colony?

Home values in Old Elm Spring Colony have increased 13.8% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Old Elm Spring Colony?

Based on a typical all-in ownership cost of $725/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $31k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Old Elm Spring Colony is $75k/year.

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What industries drive the economy in Old Elm Spring Colony?

The largest employment sectors in Old Elm Spring Colony are public administration (21%) and healthcare (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.