Cost of Living in Buffalo, SD

With a cost of living index of 58, Buffalo, SD is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 16% below the South Dakota state average of 74. Buffalo is a small community of 282 residents.

Housing costs are the biggest factor in Buffalo's cost of living. The median monthly rent is $583 (56% below the US median of $1,319), and the median home value sits at $112,500 (63% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Buffalo is $81,607, which is 9% higher than the national median of $75,149. Residents spend roughly 9% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Buffalo. The area sees an average annual temperature of 45.5°F, with summers averaging 69°F and winters around 23°F. Annual rainfall totals 13.4 inches spread over roughly 89 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.