Quick facts: Canistota, SD

Quick Facts

98.4
Cost of Living
below US average
638
Population
7.84
Crime Rate per 1000
below US average
$57,557
Median Income
below US average
$225,000
Median House Price
above US average
$1139
Average Rent
below US average
5%
Poverty Rate
below US average
2.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,557.

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Income Needed to Buy

βœ— Stretch
$71k/year
Based on $225,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $71k vs median $57,557
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Income Needed to Rent

βœ“ Affordable
$49k/year
Based on $1139/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($57,557) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Canistota, SD

Canistota is a small town located in the southeastern part of South Dakota, within Minnehaha County. With a population of around 800 residents, Canistota exudes a tight-knit, community-oriented atmosphere. The town, situated approximately 30 miles northwest of Sioux Falls, is characterized by its rural charm and picturesque landscapes. One of Canistota's defining features is its strong agricultural heritage, with many residents engaged in farming and related industries. The town also offers a range of amenities, including local shops, parks, and recreational opportunities, making it an inviting place for families and individuals seeking a peaceful lifestyle. Canistota has a rich history, with its roots dating back to the late 19th century. The town is served by the Canistota School District, which provides educational opportunities for local children. Throughout the year, Canistota hosts community events and gatherings that foster a sense of belonging among residents. With its serene environment and friendly community, Canistota is an ideal location for those looking to escape the hustle and bustle of city life while still being accessible to larger urban centers.

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