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City · 12,930 residents · Lawrence County, South Dakota

Spearfish , South Dakota

In Spearfish, a typical home is worth $346,200 and typical rent is $963 a month. Compared with all of Lawrence County, typical household income is 10% lower and the share of households that own their home is 15 points lower.

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  • Typical home value

    $346,200

    About the same as the county

    34% above South Dakota

    • Spearfish
    • Lawrence
    • South Dakota

  • Typical rent

    $963a month

    3% above the county

    About the same as South Dakota

    • Spearfish
    • Lawrence
    • South Dakota

  • Typical household income

    $65,688a year

    10% below the county

    13% below South Dakota

    • Spearfish
    • Lawrence
    • South Dakota

  • Households that own their home

    50%

    15 points below the county

    19 points below South Dakota

    • Spearfish
    • Lawrence
    • South Dakota

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$450,602
0.6% less than 12 months ago
Typical rent
$1,525 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Spearfish is in Lawrence County. The FHA loan limit ($541,650 for a one-unit home), the fair market rents and the help on this page are those of all of Lawrence County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Spearfish apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Belle Fourche, the typical home value is $222,500: 36% less than in Spearfish ($346,200).

  2. 50% of households in Spearfish own their home, against 65% in Lawrence County.

  3. Spearfish has the 2nd highest typical home value of the 19 cities in South Dakota with more than 5,000 people ($346,200).

  4. Nearby, in Sturgis, the typical rent is $780: 19% less than in Spearfish ($963).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Spearfish

What homes there are in Spearfish, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Homes in Spearfish are varied: detached houses are the largest group, at 43%, against 65% in Lawrence County.

Year built

Here half of the homes date from 1992 or later; in Lawrence County, from 1987 or later.

There are fewer big homes in Spearfish than in Lawrence County: 51% have 3 bedrooms or more, against 57%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA loan limit for Lawrence County is $541,650, and about 86% of owner-occupied homes in Spearfish are worth less than that.

Monthly rent with utilities

Measured against HUD's 2-bedroom fair market rent ($1,207), about 66% of rented homes in Spearfish cost less.

With a mortgage

$1,737 a month

Lawrence County: $1,693 a month

Without a mortgage

$669 a month

Lawrence County: $648 a month

Owners with a mortgage

55%

Lawrence County: 52%

In Spearfish, 55% of owners have a mortgage; their typical cost is $1,737 a month, about the same as in Lawrence County.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Spearfish rose 63% since 2015–2019, less than in Lawrence County (67%).

The typical rent in Spearfish rose 26% since 2015–2019, about the same as in Lawrence County (23%).

While home values in Spearfish changed +63% and rent +26%, the typical household income rose 42%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSpearfishLawrence CountySouth DakotaUnited States
Rental vacancy Unreliable estimateUnreliable estimate6.0%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.3%3.4%
People per household 2.052.182.392.53
Drive alone 77%76%77%69%
Carpool 8%11%8%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 7%4%3%3%
Work from home 7%7%10%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute 10 to 19 minutes10 to 19 minutes10 to 19 minutes20 to 29 minutes

Households in Spearfish are smaller: 2.05 people on average; in Lawrence County, 2.18.

To get to work, 77% of workers in Spearfish drive alone; in Lawrence County, 76%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Spearfish?

A typical home costs more than the typical income allows

We start with a typical home in Spearfish, worth $346,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 52% of the typical household income in Spearfish, which is $65,688 a year. For that payment to be 28% of income, a household would need to earn about $122,811 a year.

The calculator's FHA and conventional loan limits are those of all of Lawrence County.

Your numbers

Local data
$

Starts at the typical home value in Spearfish. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $12,117 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,866

at 7.18% · 30 years

Loan amount
$339,929
Total interest
$489,079
Paid off in
November 2056

Includes $5,846 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,533 a month

  • Tight

    $1,533 to $1,971 a month

  • Hard

    more than $1,971 a month

    Your payment · 52%

Compared with the typical household income in Spearfish ($65,688 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,866
Principal & interest$2,303
Property tax$265
Home insurance$144
FHA mortgage insurance (MIP)$153

You need at least $12,117 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Spearfish and Lawrence County

Spearfish is in Lawrence County, South Dakota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Spearfish's own numbers

Typical home value
$346,200
Typical monthly rent
$963
Typical yearly household income
$65,688
Households that own their home
50%
Effective property tax rate
0.92%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Lawrence County

FHA limit, one-unit home
$541,650
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,207
Price change over 5 years (FHFA)
+68%
Homes in a high flood-risk zone
4.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Lawrence County.

Everything about Lawrence County

Buying

Buying a home in Spearfish

A typical home in Spearfish is worth $346,200: about the same as the county and 34% above South Dakota. With the typical household income in Spearfish ($65,688 a year), a typical home costs 5.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Spearfish 5.3 years
  • Lawrence 4.7 years
  • South Dakota 3.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Lawrence County

According to FHFA’s house price index, home prices in Lawrence County rose 111% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Lawrence County.

Period County South Dakota U.S.
Last year (2025) +4.3% +3.1% +2.9%
5 years (2020–2025) +68% +50% +47%
10 years (2015–2025) +111% +85% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Spearfish next to Lawrence County, South Dakota and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Spearfish $346,200
  • Lawrence $346,500
  • South Dakota $257,400
  • United States $332,700
Typical monthly rent
  • Spearfish $963
  • Lawrence $938
  • South Dakota $946
  • United States $1,413
Typical yearly household income
  • Spearfish $65,688
  • Lawrence $73,384
  • South Dakota $75,081
  • United States $80,734
See the full table
Spearfish next to Lawrence County and South Dakota
Measure Spearfish Lawrence County South Dakota U.S.
Typical home value $346,200 $346,500 $257,400 $332,700
Typical monthly rent $963 $938 $946 $1,413
Typical yearly household income $65,688 $73,384 $75,081 $80,734
Households that own their home 50% 65% 69% 65%
Typical yearly property tax $3,183 $2,744 $2,724 $3,119
Effective property tax rate 0.92% 0.79% 1.06% 0.94%
Renters with high rent for their income 37% 34% 40% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Lawrence County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Spearfish

For a typical $346,200 home in Spearfish, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Spearfish's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,866a month

    Least cash to close
    Down payment
    $12,117
    Cash to close
    $22,503
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $153

  • Conventional, 5% down $2,802a month

    Down payment
    $17,310
    Cash to close
    $27,696
    Rate
    7.18%
    Mortgage insurance
    PMI · $164

  • Conventional, 20% down, no PMI $2,286a month

    Down payment
    $69,240
    Cash to close
    $79,626
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,606a month

    Down payment
    $51,930
    Cash to close
    $62,316
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Spearfish and for Lawrence County.

Property tax

Effective rate in Spearfish

0.92%of the home’s value each year

$3,183 a year for the typical owner in Spearfish.

  • Spearfish 0.92%
  • Lawrence 0.79%
  • South Dakota 1.06%

What South Dakota publishes Owner-occupied classification (South Dakota Department of Revenue (Owner-Occupied Classification tax fact, July 2026))

Exemptions and deadlines in South Dakota

Flood risk in Lawrence County

FEMA does not publish these numbers by city: they are for all of Lawrence County.

Homes in the high-risk zone
4.8%
644
Of those, with NFIP insurance
8.7%
County South Dakota U.S.
Homes in the high-risk zone 4.8% 2.3% 3.5%
Of those, with NFIP insurance 8.7% 14% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Spearfish

Typical rent in Spearfish is $963 a month: 3% above the county. In Spearfish, 37% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Lawrence County, by unit size. To pay the 2-bedroom one ($1,207 a month) without spending more than 30% of your income, you would need to earn $23.21 an hour working full time.

HUD fair market rent for all of Lawrence County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $841 $16.17 $33,640
1 bedroom $923 $17.75 $36,920
2 bedrooms $1,207 $23.21 $48,280
3 bedrooms $1,671 $32.13 $66,840
4 bedrooms $2,017 $38.79 $80,680

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Spearfish

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Spearfish has 2 ZIP codes with their own.

For 2 bedrooms it is $1,240 in all of them.

2 of the 2 are above the fair market rent for Lawrence County ($1,207).

  • 57783 $1,240$1,720
  • 57799 $1,240$1,720

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Spearfish when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Spearfish

HUD lists 6 buildings with rents for lower incomes in Spearfish. These are the largest.

  • Rocky Bluff Apts 2437 Clear Spring Rd, Spearfish 57783 31 low-income homes · 2 bd: 16 · 3 bd: 15 · In service since 2013
  • Iron Creek Plaza 1710 Ryan Rd, Spearfish 57783 24 low-income homes · For families (605) 642-7547
  • Lookout Mountain View 308 E Rushmore St, Spearfish 57783 24 low-income homes · For older adults (605) 892-4381
  • Rolling Hills Apts 721 S 34th St, Spearfish 57783 24 low-income homes · In service since 1994
  • Golden Manor 620 N 11th St, Spearfish 57783 22 low-income homes · 1 bd: 14 · 2 bd: 8 · In service since 2004 · For families (605) 642-7602

See all 8 buildings in Lawrence County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Spearfish

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Lawrence County; none says it serves in Spanish.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Spearfish

No down payment, repair or rent-help program on our list is for Spearfish or Lawrence County. The ones below are statewide in South Dakota: they work in Spearfish the same as in the rest of the state.

Which programs do I qualify for? All programs in South Dakota

  • Fixed Rate Plus

    Statewide in South Dakota

    South Dakota state authority mortgage with 3% or 5% of the loan for the down payment and closing costs, as a 0% second mortgage with no payments, repaid when you sell or pay off the home. Offered by South Dakota Housing Development Authority.

    Deferred

    See the program Official page

  • South Dakota Housing Tax Credit (MCC)

    Statewide in South Dakota

    South Dakota state authority certificate that turns part of your mortgage interest into a credit on your federal taxes, of up to $2,000 a year while you live in the home and keep the original mortgage; for first-time buyers, requested through a participating lender before closing. Offered by South Dakota Housing Development Authority.

    Tax credit

    See the program Official page

Housing counselors near Spearfish

The HUD-approved agencies closest to the center of Spearfish, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Neighborworks Dakota Home Resources

    795 Main St, Deadwood · 9 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (605) 578-1401

  • Consumer Credit Counseling Service of the Black Hills

    2310 N Maple Ave, Rapid City · 40 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (605) 348-4550

  • Black Hills Children's Ranch, Inc. - Pioneer Credit Counseling

    3620 Homestead Street, Suite 1, Rapid City · 43 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (605) 348-1608

Every agency in Lawrence County All counseling agencies in South Dakota

Help in Spanish near Spearfish

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Spearfish

HUD lists no housing authority with an office in Lawrence County. One in a neighboring county or the state’s may serve the area.

All housing agencies in South Dakota Source: HUD

Cities

Nearby cities

The cities closest to Spearfish, with the typical home value.

Everything about Lawrence County Housing in South Dakota

Neighboring counties

If Lawrence County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Spearfish.

All guides
Three women of one family lean in together to stir the pan.

Questions

Housing questions about Spearfish

Short answers with the numbers for Spearfish and all of Lawrence County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Spearfish?

The typical home value in Spearfish is $346,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Lawrence County it is $346,500.

How much does it cost to rent in Spearfish?

Typical rent in Spearfish is $963 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Lawrence County is $1,207.

What is the FHA loan limit in Spearfish?

Spearfish uses the FHA limit for all of Lawrence County (2026): $541,650 for a one-unit home and $1,041,650 for a four-unit home.

How much property tax do owners pay in Spearfish?

The typical homeowner in Spearfish pays $3,183 a year, according to the U.S. Census Bureau. That is 0.92% of the home’s value; in Lawrence County, the rate is 0.79%.

Where can I find free help to buy or rent in Spearfish?

There is 1 HUD-approved counseling agency with an office in Lawrence County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).