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The housing cost burden is highest in Rapid City metro.
The housing cost burden is highest in Rapid City metro.
Black Hills Knowledge Network chart
December 4, 2014

Housing Burden Highest in Rapid City Metro

The housing cost burden in the Rapid City metro area is higher than South Dakota's two other metro areas - Sioux Falls and Sioux City - and is higher than the state as a whole, according to data recently updated by the U.S. Census Bureau. 

A bit more than 31 percent of households in the Rapid City metro area (Pennington, Meade and Custer counties) were considered burdened by housing costs in 2013, meaning those households pay more than 30 percent of their income for rent or mortgage plus real estate taxes, utilities and other related housing expenses. This compares to rates of 22.4 percent in the Sioux Falls metro area, 23.5 percent for the Sioux City metro area and 24.1 percent for the state of South Dakota as a whole. 

Three Black Hills counties are among the state's top 5 counties for housing cost burden (2009-2013). Meade County (31.4 percent) is No. 2 for the highest number of households burdend by housing costs in South Dakota, followed by No. 3 Lawrence County (30.9 percent) and Pennington County (30.7 percent). Clay County (32.7 percent) ranks No. 1, while Brookings County (29.5 percent) ranks No. 2. 

At the same time, Sturgis ranks No. 1 (39.1 percent) for the highest rate of housing cost burden among South Dakota's 27 most populous municipalities, while Hot Springs ranks No. 3 (35.5 percent), Spearfish ranks No. 4 (34.8 percent), Rapid City ranks sixth (32.8 percent), Belle Fourche ranks 10th (28 percent) and Lead ranks 16th (25.5 percent). 

More than 73 percent of households statewide earning less than $20,000 per year are burdened by housing costs, while 2.9 percent of households earning more than $75,000 per year are so burdened. For households earning between $20,000 and $35,000, more than 39 percent are burdened. For those earning between $35,000 and $50,000, the rate is more than 19 percent, and it is a bit more than 6 percent for those earning between $50,000 and $75,000. 

Nearly 38 percent of households headed by someone age 24 or younger in South Dakota are burdened by housing costs.  The rate ranges between 22 percent and 25 percent for other age groups. 

For renters, the rate of being burdened by housing costs is more than twice the rate for homeowners, with nearly 40 percent of renters being burdened compared to slightly more than 17 percent for homeowners. 

For many households, the burden of housing costs exceeds 50 percent. In 2013, 9.2 percent of South Dakota households paid more than half their income for housing and related costs. That is the lowest rate since at least 2006. The rate swung between 9.5 percent and 10.5 percent between 2006 and 2012. 

Find more breakdowns for statewide housing cost burden on the South Dakota Dashboard. The interactive charts can be exported in several formats and are free to use.  

 

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