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Spearfish School District 40-2

Learn about the people, housing, costs and businesses in Spearfish School District 40-2, South Dakota

Median Home$359,346
Median Rent$1,024/month
Population18,417
Leading IndustriesManufacturing · Agriculture & Mining2% manufacturing
Home Value Growth+10.9% over 2 years
Young Adults29% of residentsslightly above average
Homeowners60% of occupied units
NotableVeteran Community10% of residents · top 9% nationally
NotableHighly Educated22% hold a bachelor's degree · top 24% nationally
Spearfish School District 40-2
SD

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Frequently Asked Questions

What are today's mortgage rates in Spearfish School District 40-2?

As of today, the 30-year fixed mortgage rate for Spearfish School District 40-2 is approximately 6.880% (6.915% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

View current rates for Spearfish School District 40-2
What is the median home price in Spearfish School District 40-2?

The median home value in Spearfish School District 40-2 is $359k. The median monthly rent is $1,024. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Spearfish School District 40-2?

Home values in Spearfish School District 40-2 have increased 10.9% 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 Spearfish School District 40-2?

Based on a typical all-in ownership cost of $1,068/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $46k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Spearfish School District 40-2 is $75k/year.

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What industries drive the economy in Spearfish School District 40-2?

The largest employment sectors in Spearfish School District 40-2 are public administration (22%) and healthcare (7%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.