Are you considering buying a home in Pierre, SD? First, the city of Pierre has a strong economy with a strong job market for those looking for work. There are also many amenities to help residents grow as a person. Or, for that matter, their children. There are many excellent in-state colleges and institutions to pick. Additionally, the average cost of living in Pierre, South Dakota, is meager. Read on for a thorough guide on everything to know before moving to Pierre.
Quick Facts
- Since 1889, Pierre has served as South Dakota's capital.
- Pierre has a median household income of $73,602 and a poverty rate of 13.84%.
- In recent years, the median rental cost has been $667 per month, with a median house value of $175,600.
- Pierre's population is currently falling at a -0.98% yearly pace, and its population has declined by -1.57%.
- Pierre, SD, has a 2020 population of 13,468 people and is in Hughes County.
Pierre, SD in a Nutshell
Pierre is a tiny city in Hughes County that serves as the state capital of South Dakota. Pierre's population has decreased a little over the last five years. But, the population in the city still has a positive growth rate in the last year and over the previous five years. Living in Pierre has a suburban atmosphere. This setting can be appealing to families looking for more room and space. It is also better for finances than more crowded cities as a decent place to raise children. The city has a lot to offer, such as tourism, natural wonders, low-cost living, and less congested cities.
Additionally, the state provides inspirational, spacious adventures for everyone seduced by its magic. South Dakota even received a rating as the happiest state in America.
Economy
Today, the economy of Pierre revolves around state and county administration and agriculture. The agriculture sector deals with grains and beef cattle, and tourism and recreation. The city's most important economic activity is the state government. Electrical and irrigation equipment are among the products manufactured here. Printing is also a significant economic activity. Pierre is the primary trading center for central South Dakota. Government, agriculture, and recreational activities linked to Missouri River reservoirs sustain its economy. Pierre's retail area spans 100 kilometers and is home to around 100,000 people. As mentioned, the city's economy is reliant on the state government. As a result, it has activities in the city and is its primary employer. St. Mary's Hospital, with 485 employees, is the largest private employer. Small companies and tourism are the only remaining sources of employment and revenue. The lakes created by the Missouri Basin Development Plan boosted tourism. Agriculture is a significant element of Hughes County's economy, with over 380 farms. Wheat, rye, oats, wild hay, flax, corn, barley, mint, soybeans, and alfalfa are the main crops grown in the area. There is also income from farmers' produce, chickens, horses, and egg and milk production.
Employment
First, the city boasts a meager unemployment rate. It is much lower than the national average and one of the country's lowest state rates. Employment in West River employment comprises routine yet essential tasks. Some examples are retail, fast food, housekeeping, janitorial, and real estate. Additionally, there are career opportunities in hotels, casinos, and other hospitality-related enterprises. Catering to tourists that are visiting this beautiful section of the city is also an example. East River, in comparison, is more urban. With Sioux Falls as the focal point. This area has similar occupations to West River. There are better job opportunities in banking, finance, corporate management, manufacturing, and healthcare.
Real Estate in Pierre, SD
People adore parts of South Dakota, such as Pierre. According to a professional study, 61% of movers in the state come from other states. Jobs are the primary cause of the population increase in the city. The increased population results in the construction of new homes. These homes, in turn, are less expensive than the national average. Because the town is rural and has a small population, there is a strong sense of belonging. This setting adds to the warmth of the straightforward and approachable locals. Renting a home in South Dakota is less expensive than purchasing one. This rate is because the mid-month mortgage starts from $1,255, while the mid-month rent is around $667. The homes start from $175,600 so purchasing a home is still reasonable compared to other states. Renting a property is one of the most popular housing options for those relocating to the state. Renters even make up approximately 28.3% of the state's population. Also, about 1.7% of the state's homes and flats are available for rent.
Real Estate Trends
Many new home buyers become interested in Pierre because of perks such as the lack of a state income tax. Additionally, inexpensive property taxes and home prices add to the excellent benefits. The city also has safe neighborhoods, a small-town ambiance, and access to open areas. As a result, the real estate market in South Dakota's main cities has surged in the previous two years. The prices have been increasing by more than 20% since last year. And inventory remains very low. So, residences are selling fast and often with dozens of offers. Home prices in Pierre have risen 14.3% in the last year. And currently, there are now 55 properties for sale, 4 of which were from the previous week. There are also 9 rentals starting at $100 per month.
Final Thoughts
Pierre, South Dakota, provides more than simple and beautiful views and amenities. It has pristine natural beauty, a dynamic cultural scene, and a stable economy. The rising professional job employment also adds to the mentioned benefits. In reality, there are many reasons why coming to Pierre, South Dakota, is a wise decision. South Dakota is well-known for its magnificent natural surroundings and Mount Rushmore. But its cities, such as Pierre, is also a lovely place to be in, with many beautiful characteristics. But, there are also certain drawbacks to living here. So, be aware of them before making a move. It is not for everyone to live in Pierre. So, it is best for those interested in moving to know what they will be getting.
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