Quick facts: Springfield, SD

Quick Facts

98.4
Cost of Living
below US average
1,915
Population
Crime rate Data is updating, will be available soon
$55,139
Median Income
below US average
$205,000
Median House Price
above US average
$1139
Average Rent
below US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

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 $55,139.

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Income Needed to Buy

βœ— Stretch
$64k/year
Based on $205,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $64k vs median $55,139
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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 ($55,139) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Springfield, SD

Springfield is a small city located in the southeastern part of South Dakota, primarily within Bon Homme County. With a population of around 1,200 residents, it offers a tight-knit community atmosphere. The city is situated along the banks of the Missouri River, providing scenic views and opportunities for outdoor activities such as fishing, boating, and hiking. Springfield is known for its historical significance, with several buildings listed on the National Register of Historic Places. The local economy is primarily driven by agriculture, with farming being a key contributor to the region's livelihood. Residents enjoy a peaceful lifestyle with access to essential services, local shops, and family-owned businesses. One of the attractions is the annual events and community festivals that foster a strong sense of belonging among residents. Nearby recreational areas, such as parks and trails, enhance the quality of life, making Springfield an appealing destination for those seeking a quiet retreat with a strong community spirit. The city's charm lies in its simplicity and the warmth of its inhabitants.

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