Cost of Living in Lake City, SD
Population: 56 | South Dakota
Lake City is 14% less expensive than the national average.
Cost of Living in Lake City, SD: What You Need to Know
With a cost of living index of 86, Lake City, SD is a very affordable place to live. Living here is 14% cheaper than the national average and 11% above the South Dakota state average of 74. Lake City is a small community of 56 residents.
The median household income in Lake City is $43,750, which is 42% lower than the national median of $75,149. 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 Lake City. The area sees an average annual temperature of 44°F, with summers averaging 69°F and winters around 17°F. Annual rainfall totals 22.9 inches spread over roughly 108 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.
Income
- Median Household Income
- $43,750
- vs US Median ($75,149)
- -42%
Housing
- Median Home Value
- $175,000
- Median Monthly Housing Cost
- $590/mo
Climate in Lake City
NOAA 30-year normals (1991-2020)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 23 | 27 | 40 | 55 | 69 | 78 | 83 | 81 | 74 | 58 | 42 | 28 |
| Avg °F | 13 | 18 | 30 | 44 | 57 | 67 | 71 | 69 | 61 | 47 | 32 | 19 |
| Low °F | 4 | 8 | 20 | 33 | 45 | 56 | 60 | 57 | 48 | 36 | 22 | 10 |
| Rain" | 0.6 | 0.7 | 1.1 | 2.1 | 2.8 | 3.5 | 3.5 | 2.6 | 2.5 | 2.3 | 0.6 | 0.6 |