Cost of Living in McPherson County, South Dakota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How McPherson County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
McPherson County ranks #548 of 3,144 counties for affordability (top 17%)
Data Story
About Cost of Living in McPherson County, South Dakota
Extreme affordability in rural South Dakota
McPherson County's 11.2% rent-to-income ratio and $580 median rent represent some of America's most affordable housing, achieved despite a median household income of $62,024 below the national average. This rural county delivers genuine economic accessibility, where renters dedicate minimal income shares to shelter.
Second-lowest rent burden statewide
McPherson County's 11.2% rent-to-income ratio ranks second-best in this eight-county group and well below South Dakota's 13.8% state average. At $580 median rent—23% cheaper than the state average of $756—McPherson is a haven for budget-conscious renters across rural South Dakota.
Cheapest option for renters
McPherson County's $580 rent ties with Miner County for the lowest in this analysis and significantly undercuts neighbors like Marshall ($743) and Lyman ($603). Its combination of minimal rent and lowest median home value ($78,400) makes it the region's most extreme affordability case.
Ownership costs less than renting
McPherson County's $580 rent is nearly matched by $537 monthly owner costs, both extraordinarily low against the $62,024 median household income. Housing claims roughly 11% of gross income as a renter and just 10% as an owner—among the nation's most favorable ratios.
Extreme affordability, minimal income needed
McPherson County welcomes those seeking maximum affordability, with rents at $580 and homes at $78,400 median value requiring the least housing commitment in this cohort. However, lower incomes reflect limited employment diversity, so relocating professionals should verify job availability before committing to this deep-rural option.
Cost of Living Advisory: McPherson County
Affordability Verdict
McPherson County is affordable for renters, with a median gross rent of $580/month representing approximately 11.2% of median household income. The rent burden (GRAPI) stands at 23.0%.
Rent vs. Own
Renters in McPherson County pay $580/month on average, compared to $537/month for homeowners. This market favors buyers by about 7%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $23,200/year. For owner costs at the 28% rule, the required income is roughly $23,014/year. With a median household income of $62,024, most households can comfortably afford rent here. Notably, 23.0% of renter households in McPherson County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within South Dakota, McPherson County is less affordable than Campbell County by roughly 9% ($580/mo vs $635/mo).
Affordability Calculator
See how your income compares to housing costs in McPherson County
Rent Burden
11.2%
of gross income
Max Housing (28% Rule)
$1,447
per month
Owner Cost Burden
10.4%
of gross income
You can likely afford the median home in McPherson County
Median home value is $78,400. Estimated monthly cost: $626 vs. your max of $1,447.
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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