1st Advantage MortgageIn Haakon County, South Dakota, the typical household earns $65,625 a year and the typical rent is $584. Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- Getting oriented in Haakon County
- The Haakon County job picture
- How much Haakon County households make
- What it costs to live in Haakon County
- The communities that make up Haakon County
- Neighboring counties at a glance
- A Haakon County household budget, worked through
- Reading the Haakon County data as a borrower
- People and households in Haakon County
- Checking a lender's license in South Dakota
- Before you sign
- Nearby and statewide guides
- Frequently asked questions
Getting oriented in Haakon County
Roughly 1,722 residents live in Haakon County, South Dakota, 61st by population among the state's 66 counties and county equivalents. Spread over 1,811 square miles, that works out to roughly 1.0 residents per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Philip is the biggest of its 2 Census places, at roughly 571 people (33% of the county total). Because Haakon County is small, the survey's margins of error are wide; treat the numbers as approximate.
The Haakon County job picture
By the Census industry count, 27% of employed Haakon County residents work in agriculture, forestry and mining and 17% in education and health care. Agriculture, forestry and mining stands out: 27% of workers here, versus 6% statewide. About 78% drive to work alone and 13% have trips of 45 minutes or more. 4.1% of households have no vehicle.
| Where residents work | Haakon County | Difference from South Dakota |
|---|---|---|
| Agriculture, forestry and mining | 26.7% | +20.4 pts |
| Education and health care | 17.4% | -7.6 pts |
| Retail trade | 15.9% | +4.3 pts |
| Manufacturing | 8.7% | -1.0 pts |
| Finance, insurance and real estate | 5.8% | -0.8 pts |
| Professional and administrative services | 5.1% | -1.9 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Haakon County should have bank statements and tax returns ready.
How much Haakon County households make
At $65,625, the typical Haakon County household income sits near the median U.S. county ($65,681). That places it 48th among South Dakota's 66 county-level areas.
| Band | Haakon County | Compared with South Dakota |
|---|---|---|
| Under $35,000 | 21.3% | +0.3 pts |
| $35,000 to $99,999 | 47.9% | +4.3 pts |
| $100,000 to $199,999 | 24.5% | -2.9 pts |
| $200,000 or more | 6.4% | -1.7 pts |
The spread is wide: 31% of Haakon County households make $100,000 or more, and 21% make less than $35,000. The poverty rate is 7.7%, 4 points lower than the state's 11.9%. Income inequality, measured by the Gini index, comes to 0.424 here. If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Haakon County median.
What it costs to live in Haakon County
Renters in Haakon County pay a median of $584 a month, 38% below the South Dakota figure of $946. Rent takes 30% or more of income for 23% of renter households here. With a median value of $164,200, a typical Haakon County house costs 2.5 times what the median household earns in a year. 79% of Haakon County households own their home and 21% rent. Median construction year: 1974.
| Haakon County | South Dakota | U.S. county median | |
|---|---|---|---|
| Median gross rent | $584/mo | $946/mo | $877/mo |
| Median home value | $164,200 | $257,400 | $185,300 |
| Owners | 79% | 69% | 75% |
| Rent-burdened renters | 23% | 40% | 45% |
| Burdened owners | 19% | 23% | n/a |
| Mobile homes | 19.1% | 7.2% | n/a |
Owners with equity have a second option. Weigh a secured line against an unsecured loan by risk as well as cost before you choose (how they compare).
The communities that make up Haakon County
Here are the 2 most populous of the county's 2 Census places, with income and rent from the same 2020 to 2024 survey. About 41% of Haakon County residents live in one of the 2. None of the 2 has its own city guide, so this page covers all of them.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Philip | city | 571 | $56,635 | $642 | 18 mi |
| Midland | town | 135 | $61,477 | n/a | 24 mi |
Neighboring counties at a glance
Six nearby counties, 40 to 63 miles away by the straight-line distance between their centers. Stanley County leads the group on income ($87,712), Jackson County trails ($35,417), and Haakon County out-earns 4 of the six.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Haakon County | - | $65,625 | $584/mo | 79% |
| Stanley County, SD | 40 mi | $87,712 | $952/mo | 83% |
| Jackson County, SD | 42 mi | $35,417 | $442/mo | 67% |
| Jones County, SD | 48 mi | $65,119 | $543/mo | 76% |
| Ziebach County, SD | 49 mi | $53,958 | $734/mo | 57% |
| Meade County, SD | 62 mi | $74,790 | $1,264/mo | 73% |
| Mellette County, SD | 63 mi | $54,076 | $708/mo | 60% |
A Haakon County household budget, worked through
The debt-to-income ratio is the main affordability test lenders use. Applied to Haakon County's medians:
- Median income divided by twelve: $5,469 before taxes
- 11% goes to median rent ($584)
- 35% debt-to-income limit: $1,330 left for all other debt payments
- With a 45% ceiling, about $1,877 remains for car, card, student and any new loan payments
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Reading the Haakon County data as a borrower
The county's numbers point to a few situations that come up often for Haakon County borrowers.
- Manufactured homes. 19% of Haakon County housing units are mobile homes, and their repairs are often paid with unsecured loans. Get the quote in writing.
- Fixed incomes. Haakon County's median age is 47.9. Social Security and pensions count as income when documented.
- Paperwork. ID, proof of income and a bank account are the basics (requirements).
People and households in Haakon County
Degree holders: 22% of adults over 25. About 7% go without health insurance.
| People and households | Haakon County | South Dakota | Median county |
|---|---|---|---|
| Median age | 47.9 | 38.0 | 41.5 |
| Bachelor's or higher | 21.5% | 31.9% | 22.2% |
| No high school diploma | 3.6% | 6.8% | n/a |
| No health insurance | 6.7% | 9.0% | 7.8% |
| No vehicle | 4.1% | 5.2% | 5.4% |
| Work from home | 14.2% | 9.7% | 8.7% |
| Poverty rate | 7.7% | 11.9% | 13.2% |
Checking a lender's license in South Dakota
Consumer lenders serving Haakon County are licensed by the state, not the county; in South Dakota that is the South Dakota Division of Banking. A CFPB complaint gets forwarded to the company for a response. See the South Dakota state guide for the statewide picture.
Before you sign
Before you apply, wherever you live in Haakon County:
- Know the exact dollar figure you need before talking to a lender.
- Prequalify with soft pulls where offered, then compare in writing.
- A South Dakota license check takes minutes; do it first.
- Pick the shortest term whose payment still fits.
Nearby and statewide guides
For statewide rules and data, see the South Dakota guide.
Frequently asked questions
What does a typical Haakon County household make?
About $65,625 a year at the median (ACS 2020-24), 13% below the South Dakota median.
How does Haakon County rent compare with South Dakota?
$584 locally versus $946 for the state, 38% below.
Which towns does the Haakon County guide cover?
Every community in the county, unincorporated areas included. The largest of its 2 Census places: Philip, Midland.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Haakon County or elsewhere in South Dakota, the same rules apply.
Who regulates personal lenders for Haakon County residents?
The South Dakota Division of Banking licenses consumer lenders in South Dakota; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.