The 10 Most Affordable Places to Live in South Dakota

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By Michael Yessis Updated June 13, 2024
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Edited by Ashley Simon

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The 57350 zip code in Huron tops our ranking of the most affordable places to live in South Dakota.

We looked at 21 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.  

Top 10 most affordable places to live in South Dakota

RankCity Affordability Score Median home valueRental costs
1Huron 🥇100$177,649$1,192
2Aberdeen🥈92.4$220,108$1,192
3Pierre 🥉89.9$276,256$1,192
4Yankton84.6$261,052$1,192
5Mitchell78.7$238,386$993
6Sioux Falls78.2$284,521$1,030
7Brandon76.0$378,519$1,314
8Brookings75.7$290,093$1,048
9Watertown74.3$308,179$1,192
10Vermillion72.9$241,131$1,192
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1. Huron

Here's why the 57350 zip code in Huron is South Dakota's most affordable place to live.

🔎 Key data about Huron

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 100 No. 1N/A
Median home value $177,649[1]No. 1 -$131,608.85
Home affordability ratio 2.9No. 1-1.5
Home value five-year change 22.4%[2]No. 1-24.7%
Home value one-year forecast -3.0%[3]No. 1-2.1%
Rental costs $1,192[4]No. 7$0
Rent affordability ratio 1.70%No. 90.0%
Median household income $61,444[5]No. 15-$8,605
Property taxes $1,844[6]No. 1-$1,058
Energy costs $0.13 kWh[7]No. 4$0.00
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Huron's 57350 zip code is the cheapest place to live in South Dakota, leading the 21 markets we evaluated. 

The median home value is $177,649, making it the 1st-cheapest housing market in the state. Forecasts project a -3.0% change in home values in the next year. Rent in the zip code averages $1,192 per month, which is the 9th cheapest amount in South Dakota.

The median property tax for homeowners in Huron is $1,844 per household, the No. 1 ranked market in South Dakota. 

Residents pay $0.13 per kWh of electricity, which ranks No. 4 among South Dakota markets.

2. Aberdeen

The 57401 zip code is the 2nd-cheapest place to live in South Dakota.

🔎 Key data about Aberdeen

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 92.4No. 2N/A
Median home value $220,108[8]No. 3-$89,149.63
Home affordability ratio 3.3No. 2-1.1
Home value five-year change 34.6%[9]No. 3-12.5%
Home value one-year forecast -1.8%[10]No. 4-0.9%
Rental costs $1,192[11]No. 7$0
Rent affordability ratio 1.70%No. 90.0%
Median household income $67,348[12]No. 11-$2,701
Property taxes $2,657[13]No. 11-$245
Energy costs $0.12 kWh[14]No. 3-$0.01
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Aberdeen's 57401 zip code has a median home value of $220,108, which is the 4th-cheapest housing market in South Dakota. You can rent for an average of $1,192 per month. That's the 7th-cheapest price in the state.

The average household income in the zip code is $67,348, which ranks 11th-highest in the state. 

Homeowners in Aberdeen pay a median property tax of $2,657 per year, making it the 11th-most affordable market in South Dakota.

Aberdeen ranks No. 3 among South Dakota energy markets. You'll pay $0.12 per kWh of electricity.

3. Pierre

The 3rd-cheapest place to live in South Dakota is Pierre's 57501 zip code.

🔎 Key data about Pierre

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 89.9No. 3N/A
Median home value $276,256[15]No. 7-$33,001.53
Home affordability ratio 3.3No. 3-1.1
Home value five-year change 35.9%[16]No. 4-11.2%
Home value one-year forecast -2.4%[17]No. 2-1.5%
Rental costs $1,192[18]No. 7$0
Rent affordability ratio 1.70%No. 90.0%
Median household income $84,055[19]No. 4$14,006
Property taxes $2,485[20]No. 7-$417
Energy costs $0.13 kWh[21]No. 4$0.00
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The No. 7 cheapest housing in South Dakota is Pierre's 57501 zip code, with a median home value of $276,256. Rents in the market average $1,192 per month, making it the 7th-most affordable rental market in the state.

The median property tax for households in Pierre is $2,485, which makes it the 7th-cheapest place in South Dakota. Pierre ranks No. 4 among South Dakota markets by energy costs. Residents pay $0.13 per kWh of electricity.

4. Yankton

The 57078 zip code in Yankton comes in at No. 4 on our list of the cheapest places to live in South Dakota.

🔎 Key data about Yankton

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 84.6No. 4N/A
Median home value $261,052[22]No. 6-$48,205.73
Home affordability ratio 3.9No. 5-0.5
Home value five-year change 30.5%[23]No. 2-16.6%
Home value one-year forecast -1.8%[24]No. 4-0.9%
Rental costs $1,192[25]No. 7$0
Rent affordability ratio 1.70%No. 90.0%
Median household income $67,326[26]No. 12-$2,723
Property taxes $2,319[27]No. 3-$583
Energy costs $0.13 kWh[28]No. 4$0.00
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The No. 6 cheapest housing market in South Dakota is Yankton's 57078 zip code, where the median home value is $261,052. Renters here pay an average of $1,192 per month. 

When it comes to energy costs, Yankton ranks 4th among South Dakota markets. Residents pay $0.13 per kWh of electricity.

The median property tax for households in the zip code is $2,319, which makes it the 3rd-cheapest market in South Dakota.

5. Mitchell

The 57301 zip code in Mitchell ranks No. 5 among South Dakota's most affordable places to live.

🔎 Key data about Mitchell

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 78.7No. 5N/A
Median home value $238,386[29]No. 4-$70,871.90
Home affordability ratio 4.3No. 11-0.1
Home value five-year change 45.4%[30]No. 8-1.7%
Home value one-year forecast -1.4%[31]No. 6-0.5%
Rental costs $993[32]No. 1-$199
Rent affordability ratio 1.80%No. 180.1%
Median household income $55,076[33]No. 18-$14,973
Property taxes $2,324[34]No. 4-$578
Energy costs $0.13 kWh[35]No. 4$0.00
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Mitchell's 57301 zip code has a median home value of $238,386, the 4th-cheapest market in the state. Forecasts project a -1.4% change in home values in the next year. 

The median property tax per household in Mitchell is $2,324. It's the 4th-cheapest market by tax rate in South Dakota.

6. Sioux Falls

The No. 6 most affordable place to live in South Dakota is the 57103 zip code.

🔎 Key data about Sioux Falls

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 78.2No. 6N/A
Median home value $284,521[36]No. 9-$24,737.37
Home affordability ratio 4.0No. 8-0.4
Home value five-year change 51.0%[37]No. 143.9%
Home value one-year forecast -0.9%[38]No. 80.0%
Rental costs $1,030[39]No. 2-$162
Rent affordability ratio 1.46%No. 4-0.2%
Median household income $70,668[40]No. 10$619
Property taxes $2,851[41]No. 15-$51
Energy costs $0.13 kWh[42]No. 9$0.00
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The back half of our top 10 kicks off with Sioux Falls's 57103 zip code, which has the 9th-cheapest home values in South Dakota. The median home value is $284,521. Rents average $1,030 per month, making it the 2nd-most affordable rental market in the state.

Residents pay $0.13 per kWh of electricity. It's the 9th-cheapest energy market.

7. Brandon

Brandon's 57005 zip code is the 7th-cheapest place to live in South Dakota.

🔎 Key data about Brandon

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 76.0No. 7N/A
Median home value $378,519[43]No. 17$69,261.51
Home affordability ratio 3.6No. 4-0.8
Home value five-year change 46.8%[44]No. 10-0.3%
Home value one-year forecast -0.8%[45]No. 110.1%
Rental costs $1,314[46]No. 20$122
Rent affordability ratio 1.24%No. 1-0.5%
Median household income $105,618[47]No. 1$35,569
Property taxes $3,966[48]No. 20$1,064
Energy costs $0.13 kWh[49]No. 9$0.00
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You'll find the 17th-cheapest home values in South Dakota in Brandon's 57005 zip code. The median value: $378,519. Renters in Brandon pay an average of $1,314 per month.

Homeowners in Brandon pay a median property tax of $3,966 per year, which is South Dakota's 20th-most affordable market.

The average household income is $105,618, which ranks 1st-highest in the state.

8. Brookings

The 8th-cheapest place to live in South Dakota is Brookings's 57006 zip code.

🔎 Key data about Brookings

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 75.7No. 8N/A
Median home value $290,093[50]No. 11-$19,164.77
Home affordability ratio 4.8No. 160.4
Home value five-year change 39.3%[51]No. 6-7.8%
Home value one-year forecast -2.0%[52]No. 3-1.1%
Rental costs $1,048[53]No. 3-$145
Rent affordability ratio 1.73%No. 170.0%
Median household income $60,572[54]No. 16-$9,477
Property taxes $2,792[55]No. 13-$110
Energy costs $0.11 kWh[56]No. 1-$0.02
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The 11th-cheapest housing market in South Dakota is Brookings's 57006 zip code, with a median home value of $290,093. Renters pay an average of $1,048 per month, the No. 3 rental market in the state.

The median property tax for households in Brookings is $2,792, which makes it the 13th-cheapest place in South Dakota. The average household income of $60,572 ranks 16th.

9. Watertown

Watertown's 57201 zip code sneaks into the top ten of South Dakota's most affordable places to live.

🔎 Key data about Watertown

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 74.3No. 9N/A
Median home value $308,179[57]No. 12-$1,078.59
Home affordability ratio 4.7No. 150.3
Home value five-year change 44.4%[58]No. 7-2.8%
Home value one-year forecast -1.3%[59]No. 7-0.4%
Rental costs $1,192[60]No. 7$0
Rent affordability ratio 1.70%No. 90.0%
Median household income $65,761[61]No. 13-$4,288
Property taxes $2,363[62]No. 5-$539
Energy costs $0.11 kWh[63]No. 1-$0.02
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The 12th-cheapest housing market in South Dakota is Watertown's 57201 zip code, where the median home value is $308,179. Renters pay an average of $1,192 per month. It's the state's 7th-cheapest rental market.

The median property tax for households within the zip code is $2,363, which makes it the 5th-cheapest property tax rate in South Dakota. 

10. Vermillion

The final spot on our list of the most affordable places to live in South Dakota goes to the 57069 zip code in Vermillion.

🔎 Key data about Vermillion

Data pointValueRank (out of 21 markets)Difference from median or average
Affordability Score 72.9No. 10N/A
Median home value $241,131[64]No. 5-$68,126.97
Home affordability ratio 4.6No. 140.2
Home value five-year change 46.9%[65]No. 11-0.3%
Home value one-year forecast -0.2%[66]No. 160.7%
Rental costs $1,192[67]No. 7$0
Rent affordability ratio 1.70%No. 90.0%
Median household income $52,052[68]No. 21-$17,997
Property taxes $2,972[69]No. 17$70
Energy costs $0.13 kWh[70]No. 4$0.00
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The 5th-most affordable market in South Dakota is Vermillion's 57069 zip code. The median home value is $241,131. Rent in the market costs $1,192 per month on average, making it the 7th-most affordable rental market in South Dakota.

The median property tax for households in Vermillion is $2,972, which is the 17th-cheapest property tax rate in the state.

Vermillion ranks No. 4 among South Dakota markets by energy costs, with households paying $0.13 per kWh of electricity.

How we ranked the most affordable places in South Dakota

We evaluated 21 zip codes in South Dakota with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings. 

✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code.

Often the zip code we identify will represent an entire city or portion of a city. 

Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location. 

If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.

Methodology: What is an Affordability Score?

Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.

  • Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in South Dakota, the higher our score on this component. We assign a weight of 23.8% to median home value.
  • Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
  • Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
  • Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
  • Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs. 
  • Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
  • Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
  • Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the South Dakota average, the higher our score on this component. We assign a weight of 7.1% to property taxes. 
  • Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the South Dakota average, the higher our score on this component. We assign a weight of 7.1% to energy costs.  

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