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Cost of Living in South Dakota

Is it better to rent or buy in South Dakota? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$77,662
$964/mo

Median in area: $964

$258,718

Median in area: $258,718

$51,744

If you Rent

🔑
$1,182 /mo
Base Rent$964
Est. Utilities$218
% of Income18.3%
Pre-tax Residual$5,290

If you Buy

🏠
$1,945 /mo
P&I (6.914%)$1,365
Taxes & Ins$362
Est. Utilities$218
% of Income30.1%
Pre-tax Residual$4,527

Cost of Living FAQs

Is it cheaper to rent or buy in South Dakota?›

Based on median housing data, renting is currently more affordable on a monthly basis in South Dakota. The estimated all-in monthly cost for renting is $1,182, while owning a median-priced home with a 20% down payment is roughly $1,945 per month (a difference of $763).

How much do utilities cost in South Dakota?›

The average monthly utility cost (electricity and natural gas) for a typical home in South Dakota is approximately $218. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in South Dakota?›

To comfortably afford the median rent and utilities in South Dakota without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $47,280 per year.