Cost of Living in Frederick, SD

With a cost of living index of 60, Frederick, SD is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 14% below the South Dakota state average of 74. Frederick is a small community of 178 residents.

Housing costs are the biggest factor in Frederick's cost of living. The median monthly rent is $719 (45% below the US median of $1,319), and the median home value sits at $83,100 (73% below the national median of $304,900). At current prices, the median home costs roughly 1x the median household income — well within traditional affordability guidelines.

The median household income in Frederick is $81,071, which is 8% higher than the national median of $75,149. Residents spend roughly 11% 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 Frederick. The area sees an average annual temperature of 44°F, with summers averaging 70°F and winters around 16°F. Annual rainfall totals 21.8 inches spread over roughly 98 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.