Shafer Round Barn · Photo: AlexiusHoratius · CC BY-SA 3.0Even on the area’s higher pay, Split Rock Township costs more to live in than 65% of U.S. towns
It ranks #25 of 35 in South Dakota for affordability. Home prices around Split Rock Township have risen about 43% over the past 5 years.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Sioux Falls, SD-MN metro area ($83K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. Split Rock Township’s area earns well above the typical U.S. town ($83K against $74K), but homes, rent and taxes here run higher still. Owners keep up no better than renters: 23% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 21% of renters.
In dollars
- $1,190a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 91prices across the Sioux Falls metro, where the U.S. is 100 (housing 78)BEA Regional Price Parities, 2024
In paychecks the grade
- 6.0 yrsof area income buys the typical home; the typical U.S. town: 3.3$83K, Sioux Falls-area income
- 14%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 23%of owners do; the typical U.S. town: 20%Census 2020–24
What Split Rock Township’s housing numbers say
Renting costs far less than owning
A two-bedroom rents for about $1,190 a month. Owning the typical Split Rock Township home, with 20% down at the calculator’s rate, runs about $3,350 with tax and insurance: 3 times as much. Can I afford it? ↓
Nearly every household owns
93% of Split Rock Township households own their home, against 69% across South Dakota. There are only 80 renter households, so rentals are scarce. Property taxes ↓
Written from the data on this page. There’s no Zillow index for Split Rock Township, so the typical value is an estimate: the Census median carried forward with the federal house price index; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Split Rock Township’s grade
Measured against what households in the area earn, Split Rock Township is more affordable than 35% of U.S. towns, #25 of 35 in South Dakota. Home prices pull the grade down most; rent holds it up.
Home prices up 43% in 5 years
The federal house price index for the ZIP codes around Split Rock Township rose 43% over the past 5 years, slower than across South Dakota (50%). Last year prices rose 3.3%. Carrying the Census median home value forward with that index puts the typical Split Rock Township home at roughly $555,000 today.
Carrying the Census median forward with the index puts a typical home at about $555K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Split Rock Township, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 6.0 years of area income
The calculator starts from the area income the grade uses. Switch to Split Rock Township’s own median, or type yours.
That’s $234K short of a typical Split Rock Township home.
A two-bedroom rents for about $1,190 a month here, $2,160 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Split Rock Township’s typical property tax (0.95% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,190
Renters already here pay a median of $987, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Sioux Falls, SD HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
High tax bills, but a low tax rate
The median bill is $4,741 (South Dakota: $2,724), because homes cost more. As a share of value it’s 0.95% a year, against 1.06% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Split Rock Township
Only figures published free for the whole country, each labeled with the area it covers: the Sioux Falls, SD-MN metro area, or South Dakota. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 91 | SD 89 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 95 | SD 95 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 81 | SD 80 | metro | BEA, 2024 |
| Other services U.S. = 100 | 92 | SD 92 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Split Rock Township vs. its neighbors
Zillow publishes no value for Split Rock Township. Brandon Township has no Zillow value, so it is in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, latest | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Split Rock Township | C | — | $500K | 0.95% | $1,190 |
| Sioux Falls | B− | $331K | $292K | 1.16% | $1,200 |
| Brandon | B | $393K | $337K | 1.15% | $1,180 |
| Anderson | – | — | $365K | 1.22% | $1,210 |
| Brandon Township | – | — | $346K | 0.99% | $1,140 |
| Pine Lakes Addition | – | — | $616K | 0.69% | $1,210 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures. “—” under Cost: not graded (too little Census data, or under 1,000 residents).
Questions about the cost of living in Split Rock Township
Is Split Rock Township expensive to live in?
Measured against what households in the area earn, Split Rock Township costs more than 65% of U.S. towns: a C for cost of living, #25 of 35 in South Dakota. The typical home costs 6.0 years of the median household income of the Sioux Falls, SD-MN metro area ($83K).
How much is rent in Split Rock Township?
HUD puts a two-bedroom at about $1,190 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $987 (Census 2020–24).
What are property taxes in Split Rock Township?
The median bill is $4,741 a year, 0.95% of the median home value (South Dakota: $2,724, 1.06%), from the Census 2020–24.
Neighbors talk housing
What Split Rock Township buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.