Cost of Living in Hot Springs, SD
Population 3,506 · South Dakota · Data vintage 2023
(100 = US avg)
With a median age of 59, Hot Springs functions largely as a retirement market. Housing costs — $168,000 for a typical home — anchor most household budgets, and the state's treatment of pension income tends to matter more than wage-driven tax comparisons. Around 28% of residents live below the federal poverty line, a rate that tends to correlate with the income and housing figures above.
Hot Springs lies roughly 215 miles northeast of the nearest major metro, Fort Collins — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 69% lower than Fort Collins' $548,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Hot Springs
The median home value in Hot Springs is $168,200 — 45% below the national median of $305,000. Median rent runs $854/month, 35% lower than the national median of $1,314/month. The median household income of $49,688/year is 33% lower than the US median of $74,580. The local unemployment rate is 3.5%, below the national average of 4.8%. South Dakota charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 54.4°F and lows of 31.9°F. Overall, Hot Springs has a cost of living index of 59 versus the US average of 100, meaning it is 41% less expensive.
Hot Springs has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 35 | 35 | 44 | 50 | 60 | 71 | 79 | 78 | 69 | 54 | 43 | 35 |
| Low °F | 15 | 15 | 22 | 29 | 38 | 47 | 54 | 52 | 43 | 32 | 22 | 16 |
| Precip" | 0.41 | 0.59 | 0.91 | 2.42 | 2.97 | 3.16 | 3.29 | 2.12 | 1.59 | 1.29 | 0.52 | 0.48 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Hot Springs, SD?
Hot Springs has a cost index of 59 (100 = national average). It is 41% below the national average.
What is average rent in Hot Springs, SD?
The median gross rent in Hot Springs is $854 per month based on 2023 Census data.
What is the average home price in Hot Springs?
The median home value in Hot Springs is $168,200 according to Zillow and Census data.
What is the median income in Hot Springs?
The median household income in Hot Springs is $49,688 per year (2023 ACS 5-year estimates).
What is the sales tax in Hot Springs, SD?
The combined state and local sales tax rate in Hot Springs is 6.1%. South Dakota has no state income tax.
Is Hot Springs, SD affordable?
Yes, Hot Springs is generally considered affordable, with a cost of living index of 59 — about 41% below the US national average of 100.
What is the weather like in Hot Springs?
Hot Springs has average high temperatures of 54.4°F and average lows of 31.9°F. Annual precipitation is 19.8". Data from NOAA 1991–2020 Climate Normals.
Hot Springs at a Glance
- Population
- 3,506
- Median Income
- $49,688
- Home Value
- $168,200
- Median Rent
- $854/mo
- Unemployment
- 3.5%
- Avg High Temp
- 54.4°F
- Sales Tax
- 6.1%
Nearby Cities
Explore county-level cost of living data
South Dakota Rankings
Similar Cost Cities
Cities in other states with comparable housing costs