In South Dakota, the median household income is $75,081 and 69% of homes are owner-occupied (ACS 2020 to 2024). A safe personal loan starts with a license check, three written offers compared on total cost, and a payment that fits your own budget.
On this page
- South Dakota by the numbers
- What the numbers mean for South Dakota borrowers
- Largest places in South Dakota
- Mid-size South Dakota communities
- Counties with the most residents
- How South Dakota earns a living
- More context for South Dakota budgets
- Checking a lender in South Dakota
- Can South Dakota residents use the questionnaire?
- Local guides in South Dakota
- Frequently asked questions
South Dakota by the numbers
Sixteen lines of Census data describe the budget backdrop in South Dakota; a rank of 1 means the highest value of any state or DC.
| Budget measure | South Dakota | United States | Rank (1 = highest) |
|---|---|---|---|
| Median household income | $75,081 | $80,734 | 31st |
| Poverty rate | 11.9% | 12.5% | 25th |
| Jobless rate, 5-year ACS | 2.9% | 5.2% | 50th |
| Rent, median gross (monthly) | $946 | $1,413 | 50th |
| Rent-burdened renters (30%+) | 40% | 51% | 50th |
| Home value, median | $257,400 | $332,700 | 34th |
| Homes owner-occupied | 69% | 65% | 19th |
| Cost-burdened owners with a mortgage | 23% | 28% | 39th |
| Home value to income ratio | 3.4x | 4.1x | 35th |
| Commutes of 45 minutes or longer | 7% | 17% | 51st |
| Working from home | 10% | 15% | 42nd |
| Bachelor's degree or higher (age 25+) | 32% | 36% | 35th |
| Median age | 38.0 | 38.9 | 38th |
| Gini index (inequality) | 0.449 | 0.483 | 45th |
| Share of households under $35,000 | 21% | 21% | 27th |
| Households earning $100,000 or more | 35% | 41% | 36th |
What the numbers mean for South Dakota borrowers
In South Dakota, 10% of workers work from home and 7% spend 45 minutes or more getting to work, compared with 15% and 17% nationally. Remote and self-employed workers should expect lenders to ask for bank statements or tax returns in place of a simple pay stub.
Poverty affects 11.9% of South Dakota residents (U.S. 12.5%), and the five-year average unemployment rate was 2.9%. If your job is seasonal or hourly, lenders may ask for more months of statements to see a steady pattern.
Median gross rent in South Dakota is $946 a month, ranking 50th, and 40% of renters are cost-burdened by the Census definition, compared with 51% nationally. Renters have no home equity to fall back on, which makes comparing APR and total cost more important, not less.
At $75,081, median household income in South Dakota ranks 31st of 51 jurisdictions; the national median is $80,734. What counts for an application is the income you can document, from wages, a pension, benefits or self-employment.
Largest places in South Dakota
Where most South Dakota residents live: the 12 largest cities, towns and census-designated places, with the latest five-year Census figures.
| City or town | County | Residents | Median income | Median gross rent | Home value (median) |
|---|---|---|---|---|---|
| Sioux Falls | Minnehaha County, Lincoln County | 201,469 | $75,970 | $1,035 | $292,400 |
| Rapid City | Pennington County | 77,946 | $70,870 | $1,109 | $299,400 |
| Aberdeen | Brown County | 28,189 | $64,405 | $762 | $217,300 |
| Brookings | Brookings County | 23,948 | $63,493 | $889 | $265,500 |
| Watertown | Codington County | 23,044 | $69,600 | $942 | $229,400 |
| Mitchell | Davison County | 15,649 | $58,620 | $851 | $192,200 |
| Yankton | Yankton County | 15,540 | $67,804 | $790 | $222,700 |
| Huron | Beadle County | 14,385 | $61,452 | $888 | $159,000 |
| Pierre | Hughes County | 13,948 | $77,672 | $983 | $230,700 |
| Spearfish | Lawrence County | 12,930 | $65,688 | $963 | $346,200 |
| Box Elder | Pennington County, Meade County | 12,902 | $73,008 | $1,491 | $302,100 |
| Vermillion | Clay County | 11,878 | $50,456 | $764 | $219,000 |
Size first: 2 South Dakota places pass 50,000 residents and 13 pass 10,000. Income next: among those over 20,000, Brookings sits lowest at $63,493 and Sioux Falls highest at $75,970. Rents differ just as much, from a median $762 a month in Aberdeen to $1,109 in Rapid City.
Mid-size South Dakota communities
Continuing down the population list from Brandon to Sisseton.
| City or town | Population | Median income | Median rent |
|---|---|---|---|
| Brandon | 10,996 | $110,806 | $976 |
| Harrisburg | 8,519 | $108,724 | $1,362 |
| Sturgis | 7,086 | $54,404 | $780 |
| Rapid Valley | 6,975 | $83,208 | $1,174 |
| Tea | 6,786 | $120,139 | $1,220 |
| Madison | 6,094 | $65,593 | $981 |
| Belle Fourche | 5,804 | $65,071 | $983 |
| Dakota Dunes | 3,936 | $136,125 | $1,225 |
| Dell Rapids | 3,905 | $100,170 | $962 |
| Hot Springs | 3,548 | $66,338 | $897 |
| Milbank | 3,525 | $56,011 | $548 |
| Hartford | 3,478 | $99,893 | $938 |
| North Sioux City | 3,045 | $71,908 | $1,098 |
| Canton | 3,033 | $60,850 | $673 |
| Summerset | 3,022 | $119,271 | $1,288 |
| Lead | 3,006 | $73,047 | $835 |
| Blackhawk | 2,934 | $71,993 | n/a |
| Mobridge | 2,932 | $65,357 | $953 |
| Winner | 2,905 | $47,381 | $770 |
| Sisseton | 2,670 | $48,875 | $596 |
Measured as a year of median rent against median household income, housing weighs most in Winner (20%) and least in Brandon (11%) among these 20 places.
Counties with the most residents
The largest 16 of South Dakota's 66 counties, by population.
| County | Population | Median income | Median rent | Typical home value |
|---|---|---|---|---|
| Minnehaha County | 203,289 | $76,880 | $978 | $287,600 |
| Pennington County | 113,512 | $74,517 | $1,120 | $302,200 |
| Lincoln County | 70,638 | $99,166 | $1,260 | $348,300 |
| Brown County | 37,877 | $70,898 | $777 | $221,100 |
| Brookings County | 35,353 | $70,064 | $901 | $264,600 |
| Meade County | 30,546 | $74,790 | $1,264 | $310,900 |
| Codington County | 28,767 | $72,727 | $938 | $237,700 |
| Lawrence County | 27,233 | $73,384 | $938 | $346,500 |
| Yankton County | 23,414 | $72,821 | $781 | $225,900 |
| Davison County | 19,952 | $66,208 | $847 | $205,800 |
| Beadle County | 19,309 | $67,681 | $879 | $175,100 |
| Hughes County | 17,664 | $81,395 | $990 | $242,000 |
| Union County | 17,081 | $89,636 | $1,069 | $301,100 |
| Clay County | 15,219 | $56,850 | $770 | $232,300 |
| Oglala Lakota County | 13,491 | $41,417 | $584 | $52,900 |
| Lake County | 10,972 | $76,808 | $947 | $247,600 |
Across all 66 counties, median household income ranges from $35,417 in Jackson County to $99,166 in Lincoln County. Lenders price your own file, not your county, but local costs decide how much payment your budget can carry.
How South Dakota earns a living
The table lists the four industries that employ the most South Dakota residents, as a share of employed people 16 and older, next to the national share.
| Industry | Share of South Dakota workers | National share | Difference |
|---|---|---|---|
| Education, health care and social assistance | 25% | 24% | +1.5 pts |
| Retail trade | 12% | 11% | +0.7 pts |
| Manufacturing | 10% | 10% | -0.1 pts |
| Arts, entertainment, lodging and food service | 8% | 9% | -0.2 pts |
Agriculture, forestry, fishing and mining is the sector with the biggest gap over the national mix, employing 6% of South Dakota workers (U.S.: 2%). Whatever the sector, bring proof of income that covers at least the last two months.
More context for South Dakota budgets
The median South Dakota resident is 38.0. Four-year degrees: 32% of adults. Income inequality (Gini): 0.449, 45th of 51.
Owners make up 69% of South Dakota households. With a median home value of $257,400, 34th of 51, a house costs about 3.4 years of median household income. The owner cost burden rate, for households with a mortgage, is 23%. Before using equity, read how a HELOC compares with a personal loan: the line is secured by the home, the loan usually is not.
The bottom and top of the South Dakota income ladder: 21% of households under $35,000, 35% at $100,000 or more. U.S. comparison: 21% and 41%. Because partners generally need $30,000 or more in yearly income, the questionnaire states that floor on the income step instead of surprising anyone at the end.
Checking a lender in South Dakota
Personal lenders that make loans to South Dakota residents generally need a state license or must lend through a bank. The state banking agency, listed by the Conference of State Bank Supervisors, is the South Dakota Division of Banking.
- Report fee-first offers at ReportFraud.ftc.gov.
- Complaints can go to the state agency and to the CFPB.
- Confirm the license on NMLS Consumer Access before you upload documents.
Can South Dakota residents use the questionnaire?
You can start it, and the location step is where you find out: if partners are not yet taking South Dakota requests, you will see a short email waitlist and nothing more is asked.
Local guides in South Dakota
We have not published a city guide for South Dakota yet. Use the search on our local guides page to find your town; it will point you here or to the nearest guide.
Frequently asked questions
Which agency licenses lenders in South Dakota?
In South Dakota, the South Dakota Division of Banking is the banking agency named by the Conference of State Bank Supervisors. NMLS Consumer Access lists many lenders' licenses, and the CFPB accepts complaints from every state.
What do households in South Dakota earn?
About $75,081. Half of South Dakota households earn more and half less; nationally the midpoint is $80,734.
How much do South Dakota renters pay?
The typical renter pays $946; the U.S. median is $1,413. In South Dakota, 40% of renting households spend 30 percent or more of income on housing.
Do home values in South Dakota change how I should borrow?
The median home in South Dakota is valued at $257,400, about 3.4 times the median household income of $75,081. Where housing takes a big share of income, keep new payments modest and compare total cost rather than stretching the term.