Black Hills Knowledge Netowork

Low-income South Dakotans were far more likely to be burdened by housing costs than high-income residents.
Low-income South Dakotans were far more likely to be burdened by housing costs than high-income residents.
South Dakota Dashboard chart
November 30, 2015

SD Posts Nation's 3rd Lowest Housing Cost Burden

South Dakotans enjoyed the nation's third-lowest housing cost burden in 2014, although thousands of the state's residents were burdened by housing costs, according to recently updated federal data. The low-income and the young recorded much higher rates of housing cost burden.

In 2014, 24 percent of South Dakotans were burdened by housing costs, meaning they paid at least 30 percent of their income on housing costs. That means 77,628 of the state's 323,994 households were burdened by the costs of mortgages or rents, real estate taxes, insurance, utilities, fuels, mobile home costs and fees. 

The rate was 23 percent in the Sioux Falls metro area -- Minnehaha, Lincoln, McCook, and Turner counties, and 27.5 percent in the Rapid City metro area -- Pennington, Meade and Custer counties. 

That compares to the lowest burdened state, North Dakota, at 22 percent, and the highest burden in California at 44 percent. Three other neighboring states ranked 4th, 5th and 6th -- Iowa (24.5 percent), Wyoming (25.2 percent) and Nebraska (26.4 percent). The national rate was 34.4 percent.

The state hit a recent peak for housing cost burden in 2008, at 26.5 percent . The Rapid City metro area also was in 2008, when it hit 34.9 percent, while the Sioux Falls metro area's recent high came in 2009 at 28.3 percent. 

Statewide, nearly 10 percent, or 31,961 households, paid more than 50 percent of their income for housing in 2014. That marks a reversal of a three-year decline in those paying more than 50 percent for housing. The rate had been dropping from 10.3 percent in 2010 and reached 9.2 percent in 2013.

South Dakotans with incomes below $20,000 hit a recent high rate of 74.8 percent for housing cost burden in 2014. That rate dropped to 37.7 percent for those with incomes between $20,000 and $35,000; to 19.6 percent for those with incomes between $35,000 and $50,000; to 9.3 percent for those with incomes between $50,000 and $75,000 and to 2.3 percent for those with incomes above $75,000. 

More than half of all South Dakota householders age 24 or younger were burdened by housing costs in 2014, while rates for older age groups were about half that or less. 

Twice as many renters were housing cost burdened than were homeowners in 2014, 39.3 percent versus 17.4 percent. 

 

Related items

  • 2019-2020 Budget Approved For Deadwood’s Outlaw Square

    At its July 15th meeting, the Deadwood City Commission approved a $847,150 budget for the city’s Outlaw Square project for July 1st through December 31st,…
  • Rapid City Seeks To Address Affordable Housing

    The development of affordable housing in Rapid City has been a big issue for local elected officials and activists in 2019. According to the Rapid…
  • Summer Nights Kicks Off May 30th

    Live music from Brandon Jones will help kick off this summer’s Summer Nights downtown concert music series in Rapid City, reports KNBN NewsCenter1. The free…

Get Involved!

  • Need more information? Rapid City Public Library associates are standing by to answer your questions! Ask away in the box below during business hours for live feedback.

    For more on this feature, click here.

  • bhkn donate

    Enjoy our work? Donate today to ensure that community members will have access to our wealth of news, history, and data for years to come.

  • 211 logoDid this post inspire you to get involved? Visit our partner 211's Volunteer Database to find volunteer opportunities in your community.

525 University Loop, Suite 202
Rapid City, SD 57701
(605) 716-0058   [email protected]