Of the little over 900,000 people who call South Dakota home, around 18,000 are 65 and older. With an index of 92.4, the state has the seventh-lowest cost of living in the nation. Though still much lower than the national average, monthly costs will be greater in one of the state's major metro areas compared to other regions.
Compared to the national median, the median house value in the state is $292,551, a difference of about $50,000. Places like Florence, Henry, and Lead are great places to put your money if you want your investment to grow in value; in the last five years, property values in these cities have increased by over 50%. You don't intend to purchase a new property during your retirement? Then you should be prepared to shell out about $759 for a South Dakota one-bedroom.
