Hot Springs cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexHot SpringsSouth DakotaNational
Cost of living index8391100
IndexHot SpringsSouth DakotaNational
Goods & Services index9496100
Groceries index10097100
Health care index96101100
Housing index5375100
Transportation index9696100
Utilities index100105100
Displayed above is a general overview of the Hot Springs, SD cost of living index. The overall cost of living index in Hot Springs, SD is 83, which is 8% lower than the South Dakota average and 17% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Hot Springs, SD are 2% lower than the South Dakota average and 6% lower than the national average.

Did you know?

  • The cost of living in Hot Springs is 8% lower than the South Dakota average.
  • The cost of living in Hot Springs is 17% lower than the national average.
  • The cost of housing in Hot Springs is 47% lower than the national average.
  • South Dakota general sales tax is 21% lower than the national average.
  • South Dakota state income tax is 100% lower than the national average.

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Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Hot Springs, SD would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Hot Springs, SD, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hot Springs, SD salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
One can approximate the cost of living and the housing affordability in Hot Springs, SD by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Hot Springs, SD have a median income of $51,506. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,202 per month to avoid calamity and poverty. The renters in the city have an income of about $24,236, which would make their monthly maximum allowable rental costs $565.

South Dakota Sales Tax

StateGeneral Sales TaxWith Max Surtax
South Dakota4%6%

South Dakota Income Tax

StateIncome Tax (Low)Income Tax (High)
South Dakota0%0%
When considering the overall cost of living expenses in Hot Springs, SD, it's important to take into account the sales tax for South Dakota, as well as the rate for income tax in South Dakota. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for South Dakota is 6%, and the sales tax in the state of South Dakota is 4%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in South Dakota starts from 0% and goes up to 0%.

Goods & Services

ItemHot SpringsNational avg.Difference
Haircut $15.33$15.561.5%
Beauty Salon $24.71$36.1131.6%
Toothpaste $2.61$2.475.7%
Shampoo $0.96$0.960.9%
Movie $8.75$10.1313.6%
Bowling $4.50$4.745.0%


ItemHot SpringsNational avg.Difference
Ground Beef $4.00$3.980.5%
Fried Chicken $1.60$1.4113.5%
Milk $1.94$2.066.2%
Potatoes $2.48$2.9816.7%
Pizza $8.16$9.4713.8%
Beer $11.24$8.7927.8%

Health Care

ItemHot SpringsNational avg.Difference
Optometrist $109.37$101.048.2%
Doctor $103.36$107.443.8%
Dentist $83.35$90.427.8%
Ibuprofen $9.57$9.283.2%
Lipitor $398.11$426.506.7%


ItemHot SpringsNational avg.Difference
Home Price $85,200.00$175,700.0051.5%
Avg. Mortgage Payment $1,545.53$1,133.2336.4%
Apartment Rent $594.00$920.0035.4%


ItemHot SpringsNational avg.Difference
Gasoline $2.02$1.991.4%
Tire Balancing $38.88$45.7615.0%


ItemHot SpringsNational avg.Difference
All Electricity$136.36$163.8116.8%
Phone $35.00$28.3923.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Buffalo Gap, SD15178-22%
Pringle, SD19283-17%
Hot Springs, SD3,56583-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Canton, TX3,56587-13%
Le Roy, IL3,56589-11%
Waldron, AR3,56482-18%
Yuma, CO3,56392-8%
Lake of the Pines, CA3,56313131%
Hot Springs, SD3,56583-17%
Source: The Hot Springs, SD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.