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Cost of living in South Dakota

Everyday prices in South Dakota run 11.4% below the US average, the 6th lowest of 51 states and DC.

By Sol Lakein. Updated November 2026.

South Dakota next to New York and the US

Longer bar = costs more.1,4,2,3
South DakotaUnited StatesNew York metro

How affordable is South Dakota?

Rent and home prices next to what households earn.6
$82,460
Typical household incomeA year · 34th highest of 51
17%
Of income goes to rentA year of 2-bed rent ($1,148/mo) against median income ($82,460). 7th lowest of 51.
4.5
Years of income to buy a home$375,000 median listing against $82,460 income. 21st lowest of 50.

Are people moving to South Dakota?

2,169 more people moved to South Dakota from other states than left between July 2024 and July 2025 (Census Bureau estimates).

Where Americans are moving5

South Dakota next to its neighbors

The states that border South Dakota, on the same measures. The number is each state's national rank on everyday prices.1,4,2
  1. 3Iowa12% cheaper than average
    2-bed rent
    $1,049
    Typical home
    $284,900
    Net moves
    -970
  2. 6South DakotaThis state11% cheaper than average
    2-bed rent
    $1,148
    Typical home
    $375,000
    Net moves
    +2,169
  3. 8North Dakota11% cheaper than average
    2-bed rent
    $1,076
    Typical home
    $370,700
    Net moves
    +512
  4. 11Nebraska10% cheaper than average
    2-bed rent
    $1,194
    Typical home
    $335,000
    Net moves
    -366
Show 3 more
  1. 16Wyoming7% cheaper than average
    2-bed rent
    $1,035
    Typical home
    $496,500
    Net moves
    +1,474
  2. 22Montana5% cheaper than average
    2-bed rent
    $1,281
    Typical home
    $635,000
    Net moves
    +6,348
  3. 30Minnesota1% cheaper than average
    2-bed rent
    $1,443
    Typical home
    $379,900
    Net moves
    +8,300

South Dakota by the numbers

Every figure on this page, as tables

South Dakota next to New York and the US

PlacePrice levelHousingTypical homeMonthly payment2-bedroom rent
South Dakota88.667.6$375,000$2,061$1,148
United States100.0100.0$419,250$2,304$1,563
New York metro112.6148.6$742,000$4,078$1,997

South Dakota next to its neighbors

StatePrice level2-bedroom rentTypical homeNet moves from other states
South Dakota88.6$1,148$375,000+2,169
Iowa87.8$1,049$284,900-970
Minnesota98.6$1,443$379,900+8,300
Montana94.6$1,281$635,000+6,348
North Dakota89.0$1,076$370,700+512
Nebraska90.1$1,194$335,000-366
Wyoming92.7$1,035$496,500+1,474

Net moves from other states

Year (July to July)Net moves from other states
2019-20-21
2020-21+6,178
2021-22+8,168
2022-23+4,514
2023-24+1,930
2024-25+2,169

States with a similar cost of living to South Dakota

Keep comparing

South Dakota cost of living: questions people ask

What is the cost of living in South Dakota?

Everyday prices in South Dakota run 11.4% below the US average, the 6th lowest of 51 states and DC (BEA, 2024). Housing costs, rent included, index at 67.6 against a US average of 100. The median listed home is $375,000 (Realtor.com, September 2026), about $2,061 a month in principal and interest. The median 2-bedroom rent is $1,148 a month, utilities included (Census, 2025). A $150,000 salary in New York buys the same as $118,049 in South Dakota.

Is South Dakota cheap or expensive to live in?

Cheaper than average. South Dakota's regional price parity is 88.6, so the same basket of goods, services and rent costs 11.4% less than the US average (BEA, 2024).

How much does a house cost in South Dakota?

The median listed home in South Dakota is $375,000 as of September 2026 (Realtor.com via FRED), against $419,250 nationally. That ranks 20th lowest of 50. With 20% down at 7.32%, principal and interest run about $2,061 a month.

How much is rent in South Dakota?

The median gross rent for a 2-bedroom in South Dakota is $1,148 a month, including utilities the renter pays, against $1,563 for the US (Census American Community Survey, 2025).

What salary in South Dakota equals $150,000 in New York?

About $118,049, using BEA regional price parities for South Dakota (88.6) and the New York metro (112.6), 2024.

Are people moving to South Dakota?

2,169 more people moved to South Dakota from other states than left between July 2024 and July 2025 (Census Bureau estimates).

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Notes on the numbers
  1. 1Everyday prices, housing costs and price levels: BEA regional price parities via FRED, 2024, where the US average is 100. In ranked lists, 1 is the cheapest.
  2. 2Homes: the typical home is the median listing price, Realtor.com via FRED, September 2026.
  3. 3Mortgage: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA.
  4. 4Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units, including utilities.
  5. 5Net moves: US Census Bureau population estimates, net domestic migration, July to July.
  6. 6Affordability: our arithmetic on Census median gross rent (2025), Census median household income (2025) and Realtor.com median listing price (September 2026). Rank 1 is the most affordable.
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