Zero Income Tax, a flourishing job market, and affordable healthcare have motivated more than 34,859 people to move to South Dakota. But it’s not that easy for everyone. With a median home price of $306,829, SD can be expensive.
Should that stop you from moving to the Mount Rushmore State? Absolutely NOT!
Cities like Madison and Yankton offer several budget-friendly options. While Madison offers a cost of living 20% lower than the state average, the median home price in Yankton is $262,641.
Whether you’re a retiree or a young professional looking for exciting opportunities, SD has affordable housing for everyone. Let’s explore some of the cheapest places to live in South Dakota!
Cheapest Places to Live in South Dakota in 2024
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Huron | $57,702 | $168,439 | 14,462 | 3.0% | 11.1% |
| Winner | $52,500 | $187,274 | 2,921 | 2.2% | 27.9% |
| Aberdeen | $62,684 | $214,774 | 28,210 | 1.9% | 13.0% |
| Madison | $62,756 | $220,319 | 6,097 | 3.0% | 14.8% |
| Vermillion | $47,813 | $224,384 | 11,915 | 2.7% | 26.2% |
| Mitchell | $51,763 | $229,007 | 15,659 | 2.9% | 17.6% |
| Yankton | $60,180 | $241,997 | 15,534 | 1.7% | 8.0% |
We have divided the top 7 most affordable places to live in South Dakota into three categories: for families, for young adults, and for retirees. Each city is evaluated based on key components of the South Dakota real estate market: median home value, median house rent and cost of living.
7 Cheapest Places to Live in SD
The annual population growth of 11.5% since 2010 is reflective of people’s intention to move to South Dakota. If you’re considering shifting to the Mount Rushmore State, here are some cities that offer affordable living options:
1. Huron
| 🟢 Cost of Living Compared to National Average | 22.9%⬇️ |
| 🏡 Median Home Price | $168,439 |
| 💲 Median Rent | $700 |
| 🌅 Known For | Splash Central Waterpark |
Huron is an affordable place to live in South Dakota. Its median house rent ranges from $700 – $850. It also offers affordable utilities which are 3.9% lower than the national average.
Huron is renowned for its scenic beauty. Situated in east-central South Dakota along the James River, the city is part of the state’s Glacial Lakes and Prairies region.
» Homes for Sale in Huron, SD: Find your dream home in this city.
2. Winner
| 🟢 Cost of Living Compared to National Average | 17.5%⬇️ |
| 🏡 Median Home Price | $187,274 |
| 💲 Median Rent | $875 |
| 🏞️ Known For | Winner Drive-In Theatre |
Winner is one of the most budget-friendly rental destinations in South Dakota with an average home rent ranging from $100 – $942. It also offers affordable grocery which is 2.8% lower than the national average.
Winner holds historical significance as it was established as a city along the Chicago, Milwaukee, St. Paul, and Pacific Railroad in the late 19th century. This railroad played a crucial role in the development and growth of Winner, shaping its early economy and infrastructure.
» Homes for Sale in Winner, SD: Browse thousands of property listings in Winner.
3. Aberdeen
| 🟢 Cost of Living Compared to National Average | 11.6%⬇️ |
| 🏡 Median Home Price | $214,774 |
| 💲 Median Rent | $836 |
| 🏖️ Known For | Dacotah Prairie Museum |
With rental costs below the national average, Aberdeen stands as one of the most affordable cities to live in South Dakota. The house rent price is between $100 – $3,000.
As the third-largest city in South Dakota, Aberdeen is known for its thriving agricultural industry. It is also famous for educational institutions like Northern State University and Presentation College, as well as cultural attractions such as the Dacotah Prairie Museum.
4. Madison
| 🟢 Cost of Living Compared to National Average | 17.1%⬇️ |
| 🏡 Median Home Price | $220,319 |
| 💲 Median Rent | $1,000 |
| 🏖️ Known For | Lake Herman State Park |
Madison offers budget-friendly living with a median rent that is $1,000 lower than the national median. With transportation costs being 37% lower than the national average, the city stands out as one of the most inexpensive places to live in South Dakota.
Madison’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in America. The city is renowned for being the home of Dakota State University, known for its strong programs in computer science and cybersecurity.
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5. Vermillion
| 🟢 Cost of Living Compared to National Average | 19.7%⬇️ |
| 🏡 Median Home Price | $224,384 |
| 💲 Median Rent | $689 |
| 🎨 Known For | University of South Dakota (USD) |
Often referred to as the ‘Waséoyuze,’ Vermillion’s cost of living is 9% lower than the state average. The utility expenses are 6.3% lower than the national average.
Vermillion is renowned for its vibrant community, diverse cultural offerings, and rich history. It is home to the University of South Dakota, providing educational opportunities and contributing to the town’s lively atmosphere.
» Homes for Sale in Vermillion, SD: Browse through thousands of properties in Vermillion.
6. Mitchell
| 🟢 Cost of Living Compared to National Average | 20.5%⬇️ |
| 🏡 Median Home Price | $229,007 |
| 💲 Median Rent | $850 |
| 🏫 Known For | Corn Palace |
The house rent in Mitchell is between $100 – $2,200. With an average household income of $51,763, you can comfortably live in this city.
Mitchell hosts a range of cultural events throughout the year. This includes the Corn Palace Festival, which showcases local talent, music, and arts, drawing visitors from near and far.
» Homes for Sale in Mitchell, SD: Find a home in one of the cheapest places to live in South Dakota.
7. Yankton
| 🟢 Cost of Living Compared to National Average | 17.3%⬇️ |
| 🏡 Median Home Price | $241,997 |
| 💲 Median Rent | $525 |
| 🖼️ Known For | Lewis and Clark Recreation Area |
Yankton is indeed one of the best places to live in South Dakota, with a slight year-over-year median home price decline of 2.9% in December 2023. The annual expenditure on food for an individual amounts to $3,185. This makes it one of the most budget-friendly options across the country.
Yankton is renowned for its rich Native American history, including its significance to the Lewis and Clark expedition. Additionally, Yankton city is known for its diverse outdoor recreational activities, such as fishing, boating, and hiking.
» Homes for Sale in Yankton, SD: Get yourself a home in this city.
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So, Where Is the Cheapest Place to Live in South Dakota?
You will find cheap houses for sale in South Dakota under 150K in cities like Huron, Winner, and Aberdeen. They offer stable job opportunities, and the cost of living is more affordable than other South Dakota cities.
To make your search easier, use Houzeo, South Dakota’s best home-buying website. Browse up-to-date listings, filter by budget, and make offers online in just a few clicks.
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in South Dakota, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow.
FAQs
What is the cheapest place to live in South Dakota?
The cheapest place to live in South Dakota is Huron. It offers affordable transportation, which is 40.1% lower than the national average.
» 7 Cheapest Places to Live in South Dakota: Find out the other cheapest places to live in South Dakota!
Is South Dakota the cheapest place to live in?
No, it is not. The median home value is $290,043. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
