Cost of Living in De Smet, SD

With a cost of living index of 67, De Smet, SD is one of the most affordable cities in the country. Living here is 33% cheaper than the national average and 8% below the South Dakota state average of 74. De Smet is a small community of 974 residents.

Housing costs are the biggest factor in De Smet's cost of living. The median monthly rent is $743 (44% below the US median of $1,319), and the median home value sits at $155,900 (49% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in De Smet is $60,139, which is 20% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to De Smet. The area sees an average annual temperature of 45.9°F, with summers averaging 71°F and winters around 19°F. Annual rainfall totals 23.3 inches spread over roughly 95 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.