Economic Indicators

The Cost of Living Index provides a useful and reasonably accurate measure of living cost differences among urban areas. The Index measures relative price levels for consumer goods and services in participating areas. The National index equals 100, and each city’s index is read as a percentage of the National average. Spearfish’s cost of living is among the lowest of any city in the midwest and west. For comparison purposes, a person living in Spearfish who makes $50,000/yr. would have the same buying power as someone living in Seattle, WA which makes $75,985.

Source: Sperling’s Best Places to Live Comparison 2016.

New housing starts in Spearfish are up nearly 30% in the last five years.

Source: City of Spearfish Building Department

Since 2012, Spearfish has experienced a 19.5% growth in municipal sales tax revenue.