The land of infinite variety, South Dakota, boasts beautiful landscapes, rich history and culture, ferocious rivers and lakes, nine various tribes and their customs, and small towns known for their exquisite lifestyle. But when it comes to the cost of living expenses in South Dakota, they seem to be reasonably low as compared to other major US states.
Things like housing and utilities are mostly cheaper than the national average. Cities and towns across the state cater to a wide range of incomes and interests by providing a variety of housing options at price points. So, If you’re thinking about relocating to South Dakota, researching the regional differences in the cost of living will help you search for the best spot for you.
So, let’s break down the South Dakota cost of living and figure out how much you might need to lead A comfortable lifestyle in South Dakota based on everyday expenses. As a bonus, you can also check out what are the things to do in Keystone South Dakota, if you are a newcomer or visitor in the state.
Is the cost of living cheap in South Dakota?
The main reason to move to South Dakota from NYC is due to its low cost of living. The cost of living in South Dakota is 4% cheaper than the national average and 46.1% cheaper than the New York average. The state is consistently ranked as one of the cheapest states to live in among the 100 US states.
Is Maine expensive to South Dakota?
The average cost of living in South Dakota is 11% more expensive than in Maine, New York. The median housing prices play an important role in the cost of living differences.
Cost Of Living in South Dakota
Before moving to South Dakota, you must know what is the cost of living in South Dakota. This will help you figure out the expenses of various major components in the state, such as food, housing, healthcare, transportation, utilities, and more concerning the average cost of these components across the country.
All in all, the cost of living in South Dakota is $1731 per month, which is 1.12 less costly than the national average. South Dakota was ranked as the 48th best and 44th most expensive state in the country, respectively.
Let us have a look at the cost of major expenses in South Dakota.
1. Groceries Prices in South Dakota
Grocery prices in most South Dakota cities are higher than the national average by 1.8%. The state’s isolation and distances between major cities may be contributing causes to the high prices there. Single South Dakotans spend between $2,800 and $3,500 a year on food, or $230 and $270 monthly. That is a moderate sum compared to other states’ food budgets.
How much does food cost in South Dakota?
A single individual in South Dakota spends around $3300 per year and a family of four spends around $9500 per year on food.
How much does a loaf of bread cost in South Dakota?
The cost of a loaf of fresh white bread of 1lb quantity in South Dakota is about $2.69.
2. Price Of Utilities in South Dakota
Utilities in South Dakota cost about $250 per month and include electricity, gas, trash, and water. Utility rates across the country are predicted to rise, but not to that extent. It does not, however, cover ancillary resources like Internet access. In pricey urban areas, a monthly subscription to unlimited bandwidth online can cost as much as $65.
How much is an electric bill in South Dakota?
The cost of an electric bill in South Dakota averages between $70-$180 per month. The charges vary per unit consumed, size of the house, tariffs per unit, area you reside, and the number of appliances used in a house.
How much do utilities cost in South Dakota?
The cost of utilities in South Dakota averages somewhere between $150-$250 per month which includes basic services like electricity, water, and telecommunication bills.
3. Cost For Healthcare in South Dakota
Medical treatment in South Dakota can be expensive, both in terms of out-of-pocket expenses and insurance premiums (presuming, of course, that you have some sort of health insurance at all). The annual cost of health care for a single adult in the state is $5,176, which is higher than the national average of $4,266.
The typical yearly healthcare expenditure for a family of four is $15,598. This is $2,648 more than the national average of $12,950.
How much does Obamacare cost in South Dakota?
The average Obamacare premium for 2022 in South Dakota is $671 per month.
What is the average cost of health per month in South Dakota?
The average cost of healthcare in South Dakota ranges from $302 and $668 per month per person.
How much is health insurance for a family of 4 in South Dakota?
The average monthly premium of health insurance for a family of four in South Dakota is around $2594.
4. South Dakota Home Prices
The cost of housing has a significant impact on household budgets. Homes in South Dakota typically sell for $239,500, $52,200 less than the national median home value of $291,700. Houses constructed in or before 1939 have a statewide median value of $101,600, while those constructed in or after 2014 are worth $301,000 on average.
The median monthly rent in South Dakota is $722 i.e. $301 less than the national median rent of $1,023. The average rent for a one-bedroom in the state is $553 per month, while the average cost for a five-bedroom or larger home is $898 per month.
Are house prices dropping in South Dakota?
House prices have increased by 6.3% in 2022 as compared to the previous year.
How is the housing market right now in South Dakota?
The sale of the housing or real estate market in South Dakota has increased by 74.7% till the end of November 2022.
How much are home prices up in South Dakota?
The median home price in South Dakota is about $239,500.
5. Education in South Dakota
South Dakota undergraduates will pay an average of $7,971 in in-state tuition and fees and $12,667 in out-of-state fees for the 2021-2022 school year. It’s much less than the average of any state. In-state tuition in 2022 is estimated to be $6,974, while out-of-state tuition is estimated to be $17,858.
Out of all South Dakota universities, Augustana University has the most tuition and fees at $35,914, while Avera Sacred Heart Hospital has the lowest at only $2,502.
How much does public school cost in South Dakota?
A student spends around $10,250 a year in public schools in South Dakota.
How much does college cost for four years in South Dakota?
The average college cost for four years in South Dakota is $7971 for in-state students and $12667 for out-of-state students.
Is the public school in South Dakota free?
Traditional public schools in South Dakota are free of tuition fees. These schools are operated and managed by school districts and sponsored by taxpayers.
How much does South Dakota university cost?
The average tuition fee at the University of South Dakota costs $19,248 per year for in-state students and $21,268 per year for out-of-state students.
6. South Dakota Tax Rates
Taxes are among the few costs that can vary so greatly from one location to the next. The average South Dakota resident working adult pays $4,825 in taxes per year, which is less than the national average of $6,542. This figure includes federal, state, and social security and Medicare payroll taxes.
One reason for the state’s relatively low tax burden is that it is one of only nine in the country that does not impose a tax on wages. South Dakota has a lower combined state and local tax burden than the rest of the country when considering only state and local taxes (including property and sales taxes) as opposed to federal taxes.
South Dakota collects $2,174 less in state taxes per resident than the national average of $3,151.
What are the income taxes in South Dakota?
South Dakota doesn’t impose any type of income taxes on their residents, neither individual nor corporate.
What is the sales tax in South Dakota?
South Dakota has a state sales tax rate of 4.50%, a local sales tax of 4.50%, and a combined tax rate of 6.40%.
What are the property taxes in South Dakota?
South Dakota has a property tax rate of 1.08% which exceeds the property tax rate of the national average i.e. 0.99%.
7. South Dakota Public Transportation
The cost of getting from one place to another can add up quickly. As a percentage, more South Dakotans (89.0%) drive alone to their workplaces than the rest of the country (85.5%). The annual mileage driven by the typical California driver is 11,042 miles.
The typical South Dakota driver may expect to spend $985 on gas alone in one year, taking into account average fuel economy and the average cost of gas (standard fuel cost an average of $2.16 a gallon in South Dakota in mid-2020). Car insurance premiums are only one example of how transportation expenses might differ from state to state.
According to Insure.com, the average annual rate for vehicle insurance in South Dakota is $1,434, which is cheaper than the national average of $1,517. The EPI also reports that a year’s worth of transportation costs for a single adult in the state amounts to $10,641.
How much is a bus pass in South Dakota?
The cost of a one-day bus pass in South Dakota is $3.
How much does public transportation cost per month in South Dakota?
The cost of public transportation per month in South Dakota is about $30 and $15 for retirees and disabled persons.
8. Average Cost For Energy & Fuels in South Dakota
South Dakota relies heavily on hydropower due to the state’s many large rivers. The majority of the energy used in the state is generated by renewable sources like water and wind. Almost all of the state’s water comes from underground, in the form of wells and aquifers.
The average price of a gallon of petrol in South Dakota counties has risen to a wide range, from below $3 to well over $5, and currently, it is $3.028 However, prices are declining statewide as a result of shifting demand and increased supply.
What is the current gas price in South Dakota?
The current average gas price in South Dakota is about $3.028.
What is the average heating bill in South Dakota?
The average cost of heating oil in South Dakota is $2.51.
9. Miscellaneous Things in South Dakota
Here is a breakdown of the cost of miscellaneous things in South Dakota:
- Meal in a restaurant (single individual): $10.5 – $80.56
- Imported beer: $4.53
- Cappuccino: $4.8
- Milk (1 liter): $3.82
- Rice (1 lb): $2.28
- Chicken (1 lb): $6.88
- Local Cheese (1 lb): $5.39
- Fruits: $3.00 – $50.00
- Vegetables: $2.15 – $15.85
- Gym monthly fees: $41
- Movie ticket: $10.6
- Doctor’s visit: $109
- Haircut: $16.7
- Slow sports club, 1-year membership: $305
- Clothes: $40 – $65
- Shoes: $83
10. Overall Cost Of Living in South Dakota
Average cost of living in South Dakota is about 89.3 out of the US average of 100. If the number is less than 100, South Dakota is cheaper than the average price in the US and vice versa.
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Cost Of Living in South Dakota FAQs
What is the cheapest rent in South Dakota?
The cheapest rent in South Dakota for a 1 bedroom room averages $540.
What factors are included in estimating your cost of living in South Dakota?
The factors that are responsible for estimating the cost of living in South Dakota include utilities, housing, rental price, transportation, food, and healthcare.
What is the minimum wage in South Dakota?
The minimum wage of a non-tipped individual in South Dakota is $10.80 per hour which will be effective from Jan 1, 2023.
South Dakota has a long history of being recognized as one of the happiest places to call home in the United States. You might be thinking, should I move to South Dakota? Of course, you should. You can pursue whatever profession you like, have access to excellent educational resources, and benefit from zero state income taxes.
If you’re looking for a place with a low cost of living and a rich cultural experience, go no further than South Dakota. That could be the deciding factor in your decision to move there. Also, don’t forget to read our article about when does it snow in South Dakota to have a safe trip or move to South Dakota.
The snow season in South Dakota is March and April, with an average snowfall of 8 to 25 inches throughout the state. Therefore, it is suggested to visitors and ex-pats not to plan a trip or relocate to the coyote state during that time of the year.