Lake Preston, SD
Population 539 · South Dakota
About Lake Preston, SD
Lake Preston is a small community located in South Dakota with a population of 539 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,917 per year, which is 19% below the national median of $75,149. The median age of 50 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lake Preston features a median home value of $139,100, which is 43% below the national median of $244,900. This makes Lake Preston one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $533, 54% below the national average of $1,163/month. Of the 276 total housing units, 67% are owner-occupied (165 units) and 33% are renter-occupied (82 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Preston shows an unemployment rate of 0.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.7%, above the national average of 12.4%. Workers in Lake Preston have an average one-way commute time of 21 minutes.
Education & Demographics
13.6% of Lake Preston residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 11.1% White, 4.5% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.5% of the population being foreign-born.
How Lake Preston Ranks in South Dakota
Cost of Living in Lake Preston, SD
Compared to national averages, Lake Preston has a median household income of $60,917 (19% below the national median of $75,149). Home values average $139,100, which is 43% below the national median. Monthly rent at $533 is 54% below the US average of $1,163. Within South Dakota, Lake Preston's income is 6% below the state average of $64,650, and home values are 3% below the state median of $143,757.
Why Live in Lake Preston, SD?
Lake Preston offers affordable housing with a median home value of $139,100, below the US average of $244,900, and rent that’s lower than the national average at $533/month, and a strong job market with an unemployment rate of just 0.4%. Additionally, the city features short commute times averaging just 21 minutes.
Potential considerations include median household income ($60,917) that falls below the national average. However, Lake Preston’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Preston has a population of 539 with a median age of 50 years. Compare Lake Preston with other cities to see how it stacks up, or explore all cities in South Dakota.
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Demographics
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lake Preston
What is the population of Lake Preston, SD?
The population of Lake Preston, SD is 539 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 Preston?
The median household income in Lake Preston, SD is $60,917 per year, which is 19% below the national median of $75,149.
What is the median home value in Lake Preston?
The median home value in Lake Preston, SD is $139,100, which is 43% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Preston?
The median monthly rent in Lake Preston, SD is $533, which is 54% below the national average of $1,163/month.
What is the unemployment rate in Lake Preston?
The unemployment rate in Lake Preston, SD is 0.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Preston, SD a good place to live?
Lake Preston offers a moderate cost of living, affordable housing, and a strong job market. With a population of 539 and a median age of 50, the city appeals to established professionals and retirees.
How educated is Lake Preston, SD?
13.6% of residents in Lake Preston 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 Preston?
Key cost-of-living indicators for Lake Preston, SD: median home value is $139,100 (43% below national), median rent is $533/month, and median household income is $60,917. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake Preston?
The poverty rate in Lake Preston, SD is 13.7%, 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 Preston, SD?
Lake Preston's population is 11.1% White, 4.5% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.5% of residents are foreign-born.