Beresford, SD vs Lake Madison, SD

There is a significant gap in the cost of living between these two cities. Beresford is 16% cheaper than Lake Madison. With a cost index of 76 vs 90, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Beresford to Lake Madison should plan for substantially higher expenses across most categories.

On the housing front, median rent in Beresford is $868/month compared to $595/month in Lake Madison — a 46% difference. Interestingly, home values tell a different story: while Lake Madison has cheaper rent, Beresford actually has lower median home values ($219,800 vs $496,600).

Median household income in Beresford is $71,017 compared to $116,648 in Lake Madison (-39.1%). While Lake Madison is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Beresford spend roughly 14.7% of their income on rent, more than the 6.1% in Lake Madison.

Climate-wise, Beresford is notably warmer with an average of 48.7°F compared to 45.1°F in Lake Madison. Lake Madison receives more rainfall at 29.6" per year compared to 28.7" in Beresford.