Cost of Living in North Spearfish, SD

With a cost of living index of 90, North Spearfish, SD is slightly more affordable than average. Living here is 10% cheaper than the national average and 16% above the South Dakota state average of 74. North Spearfish is a small community of 2,201 residents.

Housing costs are the biggest factor in North Spearfish's cost of living. The median monthly rent is $1,074 (19% below the US median of $1,319), and the median home value sits at $321,800 (6% above the national median of $304,900). At current prices, the median home costs roughly 4.6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in North Spearfish is $69,792, which is 7% lower than the national median of $75,149. Residents spend roughly 18% 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 North Spearfish. The area sees an average annual temperature of 41.1°F, with summers averaging 61°F and winters around 23°F. Annual rainfall totals 29.2 inches spread over roughly 149 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.