Madison, SD vs Spearfish, SD

Madison is moderately more affordable than Spearfish, with a 13.8% lower cost of living index. Madison scores 74 compared to 85 for Spearfish, where the US average is 100. This difference means residents of Spearfish can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Madison is $874/month compared to $941/month in Spearfish — a 7% difference. Home values follow the same pattern: Madison is more affordable at $191,400 median vs $309,200.

Median household income in Madison is $62,180 compared to $59,731 in Spearfish (+4.1%). Madison offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Madison spend roughly 16.9% of their income on rent, less than the 18.9% in Spearfish.