Affordable

What Salary Do You Need to Live in Spearfish?

To afford a 2-bedroom in Spearfish, you need to earn at least $44,000/year based on estimated fair market rent data. The median household income here is $58,734, which means the typical resident is $14,734 above the threshold.

Census ACS Data Pop. 12,268

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$770	$2,567	$30,800	$-27,934
1 Bedroom	$913	$3,043	$36,520	$-22,214
2 Bedroom BENCHMARK	$1,100	$3,667	$44,000	$-14,734
3 Bedroom	$1,342	$4,473	$53,680	$-5,054
4 Bedroom	$1,650	$5,500	$66,000	+$7,266

Affordability Breakdown

Where the required salary line crosses above Spearfish's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$58,734

Annual household

2BR Required Salary

$44,000

Under 30% rule

Income Gap

+$14,734

Surplus

Verdict

Affordable

Ratio: 22.5%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Spearfish

Your Annual Salary

Pre-filled with Spearfish's median household income

Max monthly rent you can afford$1,468

Studio

$770/mo

1 BR

$913/mo

2 BR

$1,100/mo

3 BR

$1,342/mo

4 BR

$1,650/mo

Your salary is $0 above the median income in Spearfish.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Spearfish's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Spearfish

Living in Spearfish is well within reach for most median-income earners. With a $14,734 cushion between what residents earn and what a 2-bedroom requires, households in Spearfish typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Spearfish, a studio at $770/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,342/month remains accessible for dual-income households earning above $53,680.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $66,000 would position you well — though many residents in Spearfish manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Spearfish, South Dakota.

With a total population of 12,268, the city supports an active civilian workforce of 6,451 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $44,000 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

6,451

Active civilian employees in Spearfish

Frequently Asked Questions About Renting in Spearfish

What salary do I need to live in Spearfish, South Dakota?

To afford a 2-bedroom in Spearfish under the 30% rule, you need an annual salary of at least $44,000. The median household income in Spearfish is $58,734.

Can I afford a 2-bedroom in Spearfish on $58,734?

The affordability verdict for Spearfish is "Affordable". The rent-to-income ratio is 22.5%, meaning median earners have a $14,734 surplus.

What is the average rent in Spearfish compared to median income?

The median gross rent in Spearfish is $913/month. With a median household income of $58,734, residents spend approximately 22.5% of their income on rent.

What salary do I need for a studio in Spearfish?

A studio in Spearfish rents for approximately $770/month. Under the 30% rule, you need an annual salary of $30,800 to afford this.

Is Spearfish considered an affordable place to live?

Based on the surplus of $14,734 and an affordability verdict of "Affordable", Spearfish is considered a affordable rental market when comparing the required 2-bedroom salary of $44,000 to the local median household income.

How Spearfish Compares

Other cities in South Dakota with salary requirements