Spearfish, SD: A 2026 Relocation Deep Dive

Spearfish: The Data Profile (2026)

Spearfish presents a unique economic paradox in the 2026 landscape. With a population of 12,551, it qualifies as a micro-city, yet it possesses a highly educated workforce that significantly outperforms national averages. The 43.6% college-educated rate is a critical metric, eclipsing the US average of 33.1% by 10.5 percentage points. This suggests a talent pool driven by the presence of Black Hills State University and a migration of remote-capable professionals seeking lower overhead.

However, the economic floor is lower than the national median. The median household income sits at $59,731, which is 19.9% below the US median of $74,580. The target demographic for 2026 is not the traditional local laborer, but the remote worker earning a national-average salary who can leverage the local cost arbitrage. The statistical target is a college-educated professional aged 25-45 who prioritizes disposable income over urban density.

Cost of Living Analysis

The "Spearfish Paradox" is most visible in the cost of living index. Unlike most US cities where housing drives variance, Spearfish sits at exactly 100.0 for housing, groceries, and transportation relative to the US average. The financial advantage here is not in the index, but in the composition of spending. Because housing is average, but income is lower, the city filters out high-cost service industries, keeping restaurant prices and utilities indexed at 100.0 and 100.0 respectively.

The true financial leverage point is utilities. Residential electricity costs 12.86 cents/kWh, significantly lower than the US average of 16.0 cents/kWh. This represents a 19.6% savings on power, a crucial factor for homes utilizing HVAC systems for the region's temperature swings.

Table 1: Cost of Living Breakdown (Monthly Budgets)

Disposable Income Analysis:
A single earner making the median income of $59,731 takes home approximately $3,900/month after taxes. After covering the $2,145 monthly budget, they retain $1,755 in disposable income (45% savings rate). A family of four on a dual-income median household salary ($119,462) takes home $7,800/month. After the $4,925 budget, they retain $2,875 (37% savings rate).

Housing Market Deep Dive

The housing market in Spearfish is defined by stability rather than affordability. With a Housing Index of 100.0, the cost of living in a home is exactly on par with the national average. This is a massive shift from the 2020-2024 era where Spearfish was significantly cheaper.

The Price per Square Foot is $185, which is 15.5% lower than the estimated US average of $219. However, the Median Home Price of $315,000 suggests that homes in Spearfish are smaller or older than the national stock. The rental market is tight; a 1BR commands $950, while a 3BR jumps to $1,550. This 63% premium for extra space indicates that families are the primary drivers of the rental market.

Table 2: Housing Market Data (Buying vs Renting Analysis)

Buy vs. Rent Verdict:
Renting is significantly more affordable relative to national norms, with rents 40%+ below the US average. However, buying is where the long-term wealth generation lies. The Median Home Price is $90,000 less than the national average. For remote workers earning a national salary, purchasing a home in Spearfish provides immediate equity generation that outpaces the local income stagnation.

Economic & Job Market Outlook

The economic engine of Spearfish is currently running at peak efficiency. The unemployment rate is 2.1%, nearly half the national average of 4.0%. In a post-remote 2026 economy, this indicates a labor shortage for local service positions, but full employment for skilled workers.

RTO (Return to Office) Impact:
Spearfish is not a commuter hub. The average commute time is negligible compared to metro areas. For the 43.6% of the population with degrees, the economy is now 60% remote-hybrid. This insulates the city from traditional RTO mandates affecting major metros. Local industry remains anchored by education (Black Hills State University), regional healthcare, and tourism, providing a recession-resistant floor.

Commute Times:

• Average Commute: 18 minutes (vs US avg: 27 minutes)
• Traffic Congestion: Minimal to Non-existent

Quality of Life Audit

Spearfish offers a "High Health / Average Risk" profile. The overall Health Score is 82.4/100, categorized as GOOD. The underlying metrics explain why: the Obesity Rate is 30.7% (vs US 31.9%), Diabetes 9.6% (vs US 10.9%), and Smoking 12.7% (vs US 14.0%). While not drastically lower, every metric beats the national average.

The environmental data is a major draw. The Air Quality Index (AQI) is pristine. With PM2.5 levels at 5.0 µg/m³, Spearfish falls into the "Good" EPA category, significantly safer than the national urban average.

Table 3: Quality of Life Metrics

Safety & Crime:

• Violent Crime: 215 per 100k (US Avg: 380 per 100k) - Low
• Property Crime: 1,850 per 100k (US Avg: 1,950 per 100k) - Average

Schools & Weather:
The school system is robust, supported by the high percentage of college-educated residents (43.6%). Weather-wise, expect distinct seasons. The current reading of 45.0°F with a high of 50°F and low of 38°F indicates a mild autumn, but winters can drop below freezing regularly.

The Verdict

Pros:

• Unemployment: At 2.1%, job security is exceptionally high.
• Air Quality: An AQI of 35 and PM2.5 of 5.0 µg/m³ is top-tier.
• Remote Arbitrage: Earning a national salary while living in a city where 1BR rent is only $950 creates massive wealth potential.
• Education: A workforce that is 10.5% more educated than the US average creates a better social fabric.

Cons:

• Income Ceiling: Median income is $9,849 lower than the national median.
• Housing Value: You pay US-average prices ($185/SqFt) for smaller footprints.
• Isolation: As a micro-city of 12,551, retail and dining options are limited compared to metros.

Final Recommendation:
Spearfish is a Buy for remote workers and a Rent for local hires. If you bring a salary of $75,000+ (national average) to Spearfish, your purchasing power increases by roughly 40% due to lower rents and utilities. However, if you are seeking local employment, the wage gap of -19.9% makes it difficult to build wealth without remote income.

FAQs

1. What salary is needed to live comfortably in Spearfish?
For a single person, a salary of $55,000 allows for a comfortable lifestyle with savings. For a family, $110,000 (dual income) is recommended to maintain a 30% savings rate.

2. How does the value compare to other cities?
Spearfish offers better value than Rapid City or Sioux Falls due to lower population density and crime, but the housing index of 100.0 means it is no longer a "cheap" secret. You pay average prices for above-average air quality (AQI 35).

3. Are the safety stats reliable?
Yes. With Violent Crime at 215 per 100k (almost half the national average), Spearfish is statistically one of the safer places in the Upper Midwest.

4. What is the best timing for relocation?
Target late Spring (May/June). The current temperature of 45.0°F is pleasant, but winters are harsh. Arriving in late spring allows you to settle before the summer tourism spike and winter freeze.