Lake City, SD
Population 56 · South Dakota
About Lake City, SD
Lake City is a small community located in South Dakota with a population of 56 residents according to the latest US Census Bureau American Community Survey data. The median household income is $43,750 per year, which is 42% below the national median of $75,149. The median age of 34.5 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 Lake City features a median home value of $175,000, which is 29% below the national median of $244,900. This positions Lake City in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 29 total housing units, 90% are owner-occupied (18 units) and 10% are renter-occupied (2 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake City shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 39.3%, above the national average of 12.4%. Workers in Lake City have an average one-way commute time of 17.8 minutes, one of the shorter commutes in the region.
Education & Demographics
26.1% of Lake City 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 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 10.7% of the population being foreign-born.
Cost of Living in Lake City, SD
Compared to national averages, Lake City has a median household income of $43,750 (42% below the national median of $75,149). Home values average $175,000, which is 29% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within South Dakota, Lake City's income is 32% below the state average of $64,650, and home values are 22% above the state median of $143,757.
Why Live in Lake City, SD?
Lake City offers affordable housing with a median home value of $175,000, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 2.7%. Additionally, the city features short commute times averaging just 17.8 minutes.
Potential considerations include median household income ($43,750) that falls below the national average. However, Lake City’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake City has a population of 56 with a median age of 34.5 years. Compare Lake City with other cities to see how it stacks up, or explore all cities in South Dakota.
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Other Cities in South Dakota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lake City
What is the population of Lake City, SD?
The population of Lake City, SD is 56 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in South Dakota.
What is the median household income in Lake City?
The median household income in Lake City, SD is $43,750 per year, which is 42% below the national median of $75,149.
What is the median home value in Lake City?
The median home value in Lake City, SD is $175,000, which is 29% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake City?
The median monthly rent in Lake City, SD is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Lake City?
The unemployment rate in Lake City, SD is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake City, SD a good place to live?
Lake City offers a moderate cost of living, affordable housing, and a strong job market. With a population of 56 and a median age of 34.5, the city appeals to young professionals and families.
How educated is Lake City, SD?
26.1% of residents in Lake City 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 Lake City?
Key cost-of-living indicators for Lake City, SD: median home value is $175,000 (29% below national), median rent is $0/month, and median household income is $43,750. The home-value-to-income ratio is 4.0x, a moderate figure by national standards.
What is the poverty rate in Lake City?
The poverty rate in Lake City, SD is 39.3%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Lake City, SD?
Lake City's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 10.7% of residents are foreign-born.