Elk Point, SD
Population 2,391 · South Dakota
About Elk Point, SD
Elk Point is a small town located in South Dakota with a population of 2,391 residents according to the latest US Census Bureau American Community Survey data. The median household income is $83,250 per year, which is 11% above the national median of $75,149. The median age of 33.9 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Elk Point features a median home value of $228,400, which is 7% below the national median of $244,900. This positions Elk Point in a moderately priced market relative to the rest of the country. Median monthly rent is $801, 31% below the national average of $1,163/month. Of the 935 total housing units, 75% are owner-occupied (664 units) and 25% are renter-occupied (225 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Elk Point shows an unemployment rate of 2.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Elk Point have an average one-way commute time of 21.3 minutes.
Education & Demographics
32.8% of Elk Point residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 2.8% White, 0.5% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.2% of the population being foreign-born.
How Elk Point Ranks in South Dakota
Cost of Living in Elk Point, SD
Compared to national averages, Elk Point has a median household income of $83,250 (11% above the national median of $75,149). Home values average $228,400, which is 7% below the national median. Monthly rent at $801 is 31% below the US average of $1,163. Within South Dakota, Elk Point's income is 29% above the state average of $64,650, and home values are 59% above the state median of $143,757.
Why Live in Elk Point, SD?
Elk Point offers a strong local economy with a median household income of $83,250, well above the national average, and affordable housing with a median home value of $228,400, below the US average of $244,900, and rent that’s lower than the national average at $801/month. Additionally, the city features a strong job market with an unemployment rate of just 2.1%, and a low poverty rate of 7.2%, better than the national average, and short commute times averaging just 21.3 minutes.
Elk Point has a population of 2,391 with a median age of 33.9 years. Compare Elk Point with other cities to see how it stacks up, or explore all cities in South Dakota.
Similar Cities Near Elk Point
Cities in South Dakota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Colonial Pine Hills | 2,347 | $82,262 | $348,400 | Compare |
| Beresford | 2,437 | $71,017 | $219,800 | Compare |
| Pine Ridge | 2,480 | $50,954 | $45,000 | Compare |
| Flandreau | 2,291 | $56,458 | $130,800 | Compare |
| Fort Pierre | 2,534 | $74,732 | $166,700 | Compare |
| Volga | 2,246 | $75,417 | $220,200 | Compare |
| Redfield | 2,230 | $60,586 | $117,000 | Compare |
| North Spearfish | 2,201 | $69,792 | $321,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in South Dakota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Elk Point With Other Cities
Frequently Asked Questions about Elk Point
What is the population of Elk Point, SD?
The population of Elk Point, SD is 2,391 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in South Dakota.
What is the median household income in Elk Point?
The median household income in Elk Point, SD is $83,250 per year, which is 11% above the national median of $75,149.
What is the median home value in Elk Point?
The median home value in Elk Point, SD is $228,400, which is 7% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Elk Point?
The median monthly rent in Elk Point, SD is $801, which is 31% below the national average of $1,163/month.
What is the unemployment rate in Elk Point?
The unemployment rate in Elk Point, SD is 2.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Elk Point, SD a good place to live?
Elk Point offers above-average incomes, affordable housing, and a strong job market. With a population of 2,391 and a median age of 33.9, the city appeals to young professionals and families.
How educated is Elk Point, SD?
32.8% of residents in Elk Point aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Elk Point?
Key cost-of-living indicators for Elk Point, SD: median home value is $228,400 (7% below national), median rent is $801/month, and median household income is $83,250. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Elk Point?
The poverty rate in Elk Point, SD is 7.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Elk Point, SD?
Elk Point's population is 2.8% White, 0.5% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.6% two or more races. 0.2% of residents are foreign-born.