Housing costs in Hot Springs?
A typical home costs
$252,900, which is 25.2% less expensive than the national average of
$338,100 and 5.6% less expensive than the average South Dakota home, at
$268,000. Renting a two-bedroom unit in Hot Springs costs
$1,040 per month, which is 27.3% cheaper than the national average of
$1,430 and 12.5% more than the state average of
$910.
Can I afford Hot Springs?
To live comfortably in Hot Springs, South Dakota, a minimum annual income of
$48,600 for a family, and
$31,600 for a single person is recommended.
What does A.I. say about Hot Springs?
The cost of living in Hot Springs, SD is generally quite low. The area has some of the lowest prices for food and consumer items in the entire state. It is also one of the most affordable places to buy a home with median home prices being well below that of the national average. While housing costs are relatively low, transportation can be an issue due to limited public transportation options available in town. Additionally, health care can be somewhat pricey as there are only a few providers available in Hot Springs. Despite this, overall the cost of living in Hot Springs is very reasonable and provides a great quality of life for those who choose to reside here.