Cost of Living in New Underwood, SD

With a cost of living index of 73, New Underwood, SD is one of the most affordable cities in the country. Living here is 27% cheaper than the national average and in line with the South Dakota state average. New Underwood is a small community of 538 residents.

Housing costs are the biggest factor in New Underwood's cost of living. The median monthly rent is $862 (35% below the US median of $1,319), and the median home value sits at $188,700 (38% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in New Underwood is $54,167, which is 28% lower than the national median of $75,149. Residents spend roughly 19% 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 New Underwood. The area sees an average annual temperature of 46.7°F, with summers averaging 69°F and winters around 25°F. Annual rainfall totals 17.4 inches spread over roughly 96 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Rapid City, SD (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.