Cost of Living in Scotland, SD

With a cost of living index of 58, Scotland, SD is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 17% below the South Dakota state average of 74. Scotland is a small community of 800 residents.

Housing costs are the biggest factor in Scotland's cost of living. The median monthly rent is $573 (57% below the US median of $1,319), and the median home value sits at $110,000 (64% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Scotland is $61,406, which is 18% lower 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. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.