Spearfish, South Dakota.
Typical home $450,602 (-0.6% in a year), asking rent $1,525 . Spearfish, SD metro.
to buy the typical home at today's mortgage rate — +$1,271 (+116%) since Jan 2020.
- 1 year
- Down $2,827 -1%
- $453,429$450,602 since Sep 2025
- 5 years
- Up $74,100 +20%
- $376,502$450,602 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Spearfish$2,365
- South Dakota$1,668
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 19 years.
Typical home values in Spearfish, SD fell 0.6% over the past year — slower than the nation's +1.2%.
Living in Spearfish, Lawrence County, South Dakota
Spearfish is a city of 12,193 people in Lawrence County. Half its households earn more than $65,688 a year and half less, against $73,384 across Lawrence County; 15% of its people live below the poverty line. 50% of its homes are lived in by their owners and 50% are rented. Unemployment in Lawrence County was 1.9% in August 2026, and the county had 0.9% more jobs in 2025 than the year before. The most residents work in schools and health care, then restaurants and hotels.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Spearfish is a small city in Lawrence County, South Dakota, where the typical resident is somewhat older than in many American towns. Household incomes run below the county's, and about as many homes are rented as are lived in by their owners. Plenty of adults hold a four-year degree, and winters are cold and snowy, with warm summers and a fair amount of rain and melted snow across the year.
Work. Many residents work in schools, hospitals and social care, followed by restaurants, hotels and entertainment, shops and manufacturing. Monument Health Spearfish Hospital and Black Hills State University are among the largest workplaces in town. Commutes are short, and unemployment across the county is low and has edged lower than a year ago.
Things to do. The D.C. Booth Historic National Fish Hatchery is a park in or beside town. A short drive away, the Gem Theatre and the Adams Museum & House offer a night out or an afternoon of local history. For winter days, Mystic Miner Ski Resort is a longer drive away.
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- 5,932households
- 42%of adults have a degree
- 15%below the poverty line
- 16 mintypical commute
- 7%work from home
What residents work in
Employed residents by industry, from the Census survey. Lawrence County had 13,691 jobs in 2025, 0.9% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 36° and lows near 16°; warmest in July, with highs near 84° and lows near 58°. About 70 inches of snow and 21 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Spearfish weather station, 3 miles away (NOAA).
Largest workplaces in Spearfish
- Monument Health Spearfish HospitalGeneral hospital448FTE
- Black Hills State UniversityUniversity or college418
- WalmartWarehouse clubs and supercenters414
- Spearfish School District 40-2School district318FTE
- Northern Hills Training CenterActivity centers for disabled persons, the elderly, and persons diagnosed with intellectual and developmental disabilities147
- Spearfish Canyon HealthcareHomes for the elderly with nursing care100
- SafewaySupermarkets and other grocery stores97
- Edgewood HealthcareAssisted-living facilities with on-site nursing facilities87
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 10 workplaces with 20 or more staff, 1,323 people in all. Hospitals come from their Medicare cost reports (CMS, 2023), colleges from IPEDS (NCES, 2023–24) and school districts from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Winter weatherVery high
- LightningVery high
- HailRelatively high
- Strong windRelatively high
- Cold wavesRelatively high
- Inland floodingRelatively high
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Spearfish’s census tracts, against the rest of the country; all of them together, relatively moderate. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Lawrence County and the Spearfish, SD metro.
Spearfish home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Spearfish$450,602
- South Dakota$317,874
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Spearfish listings, and the typical home goes pending in 31 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Spearfish31.17%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Spearfish31
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Spearfish107
New listings per month
Sellers arriving at the market.
- Spearfish26
Zip codes with a Spearfish address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Spearfish — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.