Average Rent in McPherson County, SD↓ Rents falling 3.6% YoY🔻 2nd cheapest in SD
HUD FY2025 · Official government data · Updated annually · Metro pop. 2,278
Market Overview
McPherson County, SD has rental prices ranging from $598/month to $1,360/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $665/month — 52% below the national average of $1,400/month. With a median household income of $62,024/year, spending $665/month on a 1-bedroom represents 13% of gross income — within the recommended 30% threshold.
How McPherson County Compares
With an average 2-bedroom rent of $872/month, McPherson County ranks #63 most expensive of the 64 cities tracked in South Dakota — more affordable than 86% of all US cities in our data.
The McPherson County Rental Market
The McPherson County, SD area has a population of about 2,278 and 19% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.
Rent Trends
2-bedroom rents in McPherson County, SD have fallen by $33/month (3.6%) over the past year, from $905 to $872. This slight decline is consistent with broader market corrections seen across US rental markets.
Affordability
To afford a 1-bedroom apartment in McPherson County, SD without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $26,600. The local median household income of $62,024 exceeds that threshold by $35,424, making McPherson County relatively accessible compared to local wages.
Economy & Jobs
McPherson County, SD has an unemployment rate of 2.4%, 1.5 percentage points below the national average of 3.9%. Strong employment conditions typically sustain rental demand, as workers relocate to the area and local residents maintain stable housing.
Fair Market Rents
HUD FY2025Is McPherson County, SD Affordable?
Income needed to rent or buy, price history, and how this city compares to nearby metros.
Affordability Index(30% income rule)
Nearby Cities in SDlargest metros in the state
| City | Studio | 1BR | 2BR | 3BR | Home Value |
|---|---|---|---|---|---|
| Sioux Falls | $748 | $882 | $1,030 | $1,412 | — |
| Rapid City | $767 | $856 | $1,119 | $1,490 | — |
| Brown County | $672 | $676 | $872 | $1,218 | — |
| Brookings County | $761 | $765 | $923 | $1,293 | — |
| Meade County | $751 | $835 | $1,095 | $1,506 | — |
| Codington County | $687 | $764 | $1,002 | $1,272 | — |
Rent or Buy in McPherson County?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real McPherson County data
Renting appears to be the better financial choice for this scenario.
Living in McPherson County
Cost of living, job market, crime rates, and moving cost estimates.
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Frequently Asked Questions
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💵Rent Affordability in McPherson CountySalary needed to afford rent here
🗺️All Cities in SDSee how McPherson County ranks statewide
⚖️Compare McPherson CountySide-by-side rent & cost of living with any city
📋SD Tenant RightsDeposit limits, eviction laws & renters protections