Understand the cost of living in South Dakota including housing, taxes, insurance, and everyday expenses. Compare South Dakota costs to the national average.
South Dakota has a cost of living index of 92, where 100 represents the national average. This means living in South Dakota is 92 percent of the national average cost. The median household income in South Dakota is $65,000, which should be weighed against local expenses.
Housing is typically the largest expense for South Dakota residents. The median home price is $260,000, with property taxes averaging 1.14% and home insurance at $2,100 per year. Renters also face costs influenced by the state's overall cost of living index of 92.
South Dakota residents pay a top income tax rate of 0%, a sales tax of 4.2%, and property taxes of 1.14%. South Dakota does not levy a state income tax, making it especially attractive for high earners. These tax rates play a major role in the overall cost of living and your household budget.
Auto insurance in South Dakota averages $1,500 per year, which is a significant ongoing expense. Combined with fuel, maintenance, and commuting costs, transportation can account for a notable portion of the South Dakota household budget.
With a cost of living index of 92, South Dakota ranks among states that are 92 percent of the national average. The median income of $65,000 and median home price of $260,000 provide useful benchmarks for comparison. Use CalcHubb's cost of living calculator to compare South Dakota with any other state.
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