South Dakota real estate and demographic information

South Dakota History

Fur trade was a booming business in South Dakota for both Native Americans and European-American fur trappers in the 1800s but conflict broke out between the two groups who fought for control of the trade. American government officials, however, met with the tribes who relied on fur trade and as a result, tribes and officials signed one of the first treaties between the European-Americans and the Native Indians. The fur business continued to thrive, but when artists and visitors steamed up the Missouri River to see the tribe's villages, they brought with them a deadly disease. Smallpox infected several tribes, killing off Native Americans by the dozen. The disease also made its way through the buffalo herds, and soon the herds dwindled.

Today, South Dakota still embraces its rich Native American history and is home to 62,000 Native American Indians who are part of the Dakota, Lakota and Nakota tribes. Together the tribes make up the Sioux Nation. Powwows and Indian festivals are held today giving tourists the opportunity to see and sample some of the native culture, including eating Indian tacos and tasting wojopi, an Indian dessert.

South Dakota Real Estate Information

Although there have been 79 recorded earthquakes in South Dakota, with the most recent rocking the state in 1994, the state's real estate market is not shaky. Rumors of Ellsworth Air Force Base closing took its toll on the housing market in 2005 but real estate in South Dakota has been steady ever since the federal government decided to spare the base.

Property taxes vary from each municipality and the state offers real estate tax relief for eligible senior citizens and those with a disability. Most homes qualify for a once a year refund of property taxes. As of Sept. 2009 median sales price for homes in South Dakota was $132,000, $93,000 less than the national average. Cost of living in the state is 4 percent below the national average.

Sioux Falls, South Dakota, the largest city in the state, is an inexpensive place to live with the cost of living 32 percent below the national average.

South Dakota Economy

South Dakota is one of the top ten pro business states in the nation, according to the Pollina Corporate Top 10 Business States, a comparative evalution of job retention and creation of all 50 states in the United States. The ranking uses 28 factors including taxes, energy costs, workman's compensation and infrastructure spending. South Dakota also leads the nation with the best environment to start a business, according to the 2004 Small Business Survival Index.

Currently, tourism is one of the largest industries in the state generating nearly $2 billion annually. South Dakota's biggest tourist draw is Mount Rushmore and second has to be its corn palace - the world's only palace covered in corn. Mining is big business too. The state regulates 1,988 licensed mines.

South Dakota is on a mission to boost economic activity with the 2010 Initiative. Some initiative goals include: doubling the amount of visitor spending to $1.2 billion by 2010 from $600 million today; increasing the gross state product (GSP) by $10 billion; and becoming a leader in research and technology development. Currently, South Dakota is last among the 50 states, Puerto Rico and the District of Columbia for number of federal research and development dollars received annually. Lastly, the 2010 Initiative hopes to brand South Dakota's quality of life as the best in America.

South Dakota Crime

Based on statistics from the Federal Bureau of Investigators South Dakota had one of the lowest crime rates in the nation. South Dakota ranked 49th in the crime index rate in the nation. For violent crimes South Dakota ranked 50th. For property damage South Dakota ranked 47th. The state ranked 49th for murder, and 47th for robbery and larceny. South Dakota was the only state in the nation in 2006 to report zero bank robberies. The state, however, scored poorly compared to others for the number of rapes, ranking 12th.

South Dakota Education and Demographics

Nearly 90 percent of the population in South Dakota age 25 and older have a high school diploma and 25.5 percent have a bachelors degree or higher. South Dakota officials take innovation seriously. The state is in the process of wiring all K-12 schools for high-speed computer access. South Dakota's student to computer ratio is 1.7 to one, the best ratio in the nation.

Minimum wage in South Dakota is currently $5.15 per hour and has been at that rate since 1997. SD Governor Michael Rounds, however, has proposed legislation to increase the minimum wage from $5.15 to $7.25. As of 2005 the median household income in South Dakota was $40,310. South Dakota is one of only seven states that do not tax personal income.