Housing decision brief
McPherson County, SD Housing Market
McPherson County screens as a below-state purchase price, below-state rent, a higher tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
6th lowest home value out of 66 South Dakota counties with data | 11th lowest rent out of 66
Median home value
$78,400
Purchase-price signal from Census ACS.
Median rent
$580/mo
Gross rent, including utilities where reported.
Monthly owner cost
$537/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
1.3x
Median home value divided by local household income.
Rent burden
23.0%
Below 30% usually screens as less pressured.
Rent vs own
$43/mo
Median owner cost screens below median rent.
Data confidence
2 notes
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$78,400 median home value is 50% below South Dakota county median
Lower rent
$580/mo is 21% below South Dakota county median
Rent burden below pressure line
23.00% of renter income goes to rent, below the 30% burden threshold.
Owning screens cheaper than renting
Median owner costs are $43/mo below median rent before individual mortgage terms.
Low disaster-risk signal
Risk score is 88.9 out of 100, a stronger cross-check for long-term ownership costs.
What to Check
Lower income base
$62,024 median income is 11% below South Dakota county median
Tax rate needs attention
1.55% effective property-tax rate is 44% above South Dakota county median
Water quality cross-check
Water quality grade is F. Review water data before treating housing cost as the full story.
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Buyers comparing homes to local incomes
- Renters trying to keep rent below the burden threshold
- Households weighing ownership against renting
- Long-term owners who care about disaster-risk exposure
Poor Fit For
- Households dependent on a deep local wage market
- Buyers focused only on purchase price and ignoring annual property tax
- Buyers who will not investigate local water systems before moving
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where McPherson County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $78,400 | $156,450 | $281,900 | 50% favorable50% below South Dakota county median |
Median gross rent Lower usually helps affordability. | $580 | $730 | $1,163 | 21% favorable21% below South Dakota county median |
Monthly owner cost Lower usually helps affordability. | $537 | $781 | $1,672 | 31% favorable31% below South Dakota county median |
Median household income | $62,024 | $70,046 | $74,755 | 11% pressure11% below South Dakota county median |
Effective property-tax rate Lower usually helps affordability. | 1.55% | 1.08% | 1.02% | 44% pressure44% above South Dakota county median |
Rent burden Lower usually helps affordability. | 23.00% | 23.00% | N/A | Near state median23.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$38,824
Median income minus rent threshold.
Owner cushion
+$39,010
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
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).
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Campbell County, SD | $87,900 | $635/mo | Same-state comparison near $87,900 home value and $635/mo rent. |
| Dewey County, SD | $75,400 | $714/mo | Same-state comparison near $75,400 home value and $714/mo rent. |
| McIntosh County, ND | $80,300 | $600/mo | Out-of-state peer near $80,300 home value and $600/mo rent. |
| Fisher County, TX | $77,600 | $629/mo | Out-of-state peer near $77,600 home value and $629/mo rent. |
| Osborne County, KS | $84,700 | $591/mo | Out-of-state peer near $84,700 home value and $591/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
- Water-quality monitoring is based on 1 active site in recent WQP data.
Next Checks
Housing Questions for McPherson County
Is McPherson County affordable for buying a home?
Is renting or owning cheaper in McPherson County?
How much income do you need for housing in McPherson County?
What should I double-check before moving to McPherson County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.