Hot Springs, SD vs Salem, SD

Hot Springs, SD and Salem, SD have a very similar cost of living, with only a 0.5% difference in their overall index. Hot Springs scores 71 while Salem scores 72 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Hot Springs is $854/month compared to $880/month in Salem — a 3% difference. Interestingly, home values tell a different story: while Hot Springs has cheaper rent, Salem actually has lower median home values ($163,500 vs $168,200).

Median household income in Hot Springs is $49,688 compared to $71,655 in Salem (-30.7%). While Salem is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Hot Springs spend roughly 20.6% of their income on rent, more than the 14.7% in Salem.