Cost of Living in Ramona, SD

With a cost of living index of 59, Ramona, SD is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 15% below the South Dakota state average of 74. Ramona is a small community of 427 residents.

Housing costs are the biggest factor in Ramona's cost of living. The median monthly rent is $663 (50% below the US median of $1,319), and the median home value sits at $92,900 (70% below the national median of $304,900). At current prices, the median home costs roughly 1.2x the median household income — well within traditional affordability guidelines.

The median household income in Ramona is $76,042, which is 1% higher than the national median of $75,149. Residents spend roughly 10% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.