2020 Retail Trade Study

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Location & Demographics

Spearfish is ideally located at the intersection of two major United States highways. Our community is situated on Interstate 90, the longest Interstate Highway in the United States. Connecting Seattle with Boston, a major percentage of US commerce travels this route each day. On a north-south axis Spearfish is also located on U.S. Hwy 85, known as the Can-Am highway. Connecting Southern Canada with El Paso, TX, it passes through major commerce centers in Wyoming, Colorado, New Mexico and Texas. Highway 85 carries a large volume of energy industry-related traffic from the oil fields in the north to processing centers southward.

This map shows the location of Spearfish in western South Dakota

20 minute Trade Area

Primary Retail Trade Area

  • Population

    21,904

  • Average Income

    $65,878

  • $223 Million trade potential

Population Growth

Coined the “fasting growing town in the Midwest”

The current Average Household Income for
Spearfish, South Dakota is $65,532
Median Home Value: $273,000

Top Area Employers

  • Monument Health
  • Black Hills State University
  • Wal-Mart
  • Spearfish School District
  • Spearfish Forest Products
  • Northern Hills Training Center
  • City of Spearfish
  • Ainsworth Benning Construction
  • Spearfish Canyon Healthcare
  • Mass Markets

Retail Leakage and Surplus Analysis

The quantitative comparison of retail leakage and surplus in the twelve major store types shown in the chart and table below provides an initial measure of market opportunities. View the full Retail Leakage and Surplus Analysis.

Interpreting Leakage Index
1.0 = equilibrium, meaning that demand and sales in the area being analyzed are in balance.
.80 = demand exceeds sales by 20%, meaning that consumers are leaving the area being analyzed.
1.2 = sales exceed demand by 20%, meaning that consumers are coming from outside the area being analyzed.

View the full report here:

Quick Facts

  • 120 acres of prime real estate zoned, available, and ready, for
    primary employer and retail development
  • Active, family-oriented community with rural flavor at major
    interchange of Interstate 90 and Highway 85, with easy access to
    major employers and services
  • Home to Black Hills State University and South Dakota Center for Enterprise Opportunity
  • No state corporate or personal income tax

SEDC is committed to growing the Spearfish community through business recruitment and retention. Experienced firsthand their eagerness to help facilitate public and private partnerships, and their ability to make things happen.

Michael GreslinTimberline Builders

Spearfish Consumer Profiles

Pastoral Pride - 18.2%

  • Estimated Income: $50,000–$74,999
  • Age: 36-45
  • Homeowner
  • Working class sensibility
  • Tech wizards
  • Active outdoor lifestyles
Thriving Boomers - 17.5%

  • Estimated Income: $75,000-99,999
  • Age: 51-65
  • Suburban city
  • Politically independent
  • Nature enthusiasts
  • Married couples
Singles and Starters - 13.4%

  • Age: 25-30
  • Rental housing
  • Single adults
  • Active lifestyles
  • Foodies
  • Digitally savvy
Blue Sky Boomers - 8.2%

  • Estimated Income: 50,000-74,999
  • Age: 51-65
  • Outdoor recreation
  • Rural lifestyles
  • Modest housing
  • Sports fans

Our Retail Trade Study Partners