Cost of Living in Faulk County, South Dakota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Faulk County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Faulk County ranks #104 of 3,144 counties for affordability (top 3%)
Data Story
About Cost of Living in Faulk County, South Dakota
Faulk faces moderate affordability headwinds
Faulk County's 14.3% rent-to-income ratio exceeds South Dakota's 13.8% state average, driven by a median household income of $58,000—the second-lowest among these eight counties. The $692 monthly rent is moderate, but lower earnings amplify the proportional housing burden.
Faulk ranks above South Dakota's affordability average
At 14.3%, Faulk County's rent-to-income ratio sits above South Dakota's 13.8% state average, indicating above-average affordability stress. The county's below-median income makes housing costs feel disproportionately heavy compared to higher-earning peer counties.
Faulk's modest rent masks income challenges
Faulk County's $692 rent is among the lowest in this cohort, but the $58,000 median income creates a 14.3% rent-to-income ratio that exceeds Day (12%), Deuel (10.1%), and Edmunds (13.7%). Low rent alone doesn't guarantee affordability without adequate income.
Faulk households juggle modest incomes and rents
Renters allocate $692 monthly while homeowners invest $695 in ownership costs, with median home values at just $124,100. Housing consumes 14.3% of median household income, leaving Faulk residents with modest cushion for unexpected expenses.
Faulk suits budget-conscious homebuyers most
Faulk County offers low home values ($124,100 median) and modest rents, making it attractive for property buyers with limited capital. Renters seeking better proportional affordability should explore Day County, while those with higher incomes might find Deuel or Edmunds more comfortable.
Cost of Living Advisory: Faulk County
Affordability Verdict
Faulk County offers affordable rental housing at a median of $692/month — about 14.3% of the typical household income here.
Rent vs. Own
The median rent in Faulk County is $692/month, while owner costs run $695/month. Renting saves approximately $3/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $27,680/year. For owner costs at the 28% rule, the required income is roughly $29,786/year. With a median household income of $58,000, most households can comfortably afford rent here. Notably, 17.0% of renter households in Faulk County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Marshall County where rent averages $743/month, Faulk County is approximately 7% less expensive.
Affordability Calculator
See how your income compares to housing costs in Faulk County
Rent Burden
14.3%
of gross income
Max Housing (28% Rule)
$1,353
per month
Owner Cost Burden
14.4%
of gross income
You can likely afford the median home in Faulk County
Median home value is $124,100. Estimated monthly cost: $991 vs. your max of $1,353.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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