HomeSouth DakotaLake County
Lake County, South Dakota: commercial real estate data.
Lake County, South Dakota has a population of 10,972 across 563 square miles, down 0.5 percent since the 2020 census base. County output reached $934.4 m in 2024, 339 establishments operate here, and the SBA record carries 3 7(a) approvals worth $563,500.
113 sourced county values · tier FULL · 10 sections
Lake County
How many people live in Lake County
- Population10,972
- Households4,716
- Average household size2.33
- Median household income$76,808
- Median age43.8
- Median gross rent$947 per month
- Median owner-occupied home value$247,600
- Home value to household income3.2 times
- Annual rent as a share of median income14.8 percent
- Adults 25 and over with a bachelor degree or higher34.6 percent
- Adults 25 and over with a graduate degree9.8 percent
- Adults 25 and over7,687
- Population under 182,146
- Share under 1819.6 percent
- Population 65 and over2,666
- Share 65 and over24.3 percent
- Working age population, 18 to 646,160
- Civilian labor force5,890
- Unemployment rate3.0 percent
- Labor force participation, adults 18 and over66.7 percent
- Rank by population among South Dakota counties16th of 66
- Rank by population among US county-equivalents2418th
Lake County is the 16th largest of 66 South Dakota counties by population. A median home costs 3.2 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 24.3 percent against 19.6 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lake County
Is Lake County growing
- Population change since the 2020 census base-0.52 percent
- Census 2020 base population11,064
- Births, 2024113
- Deaths, 202497
- Natural change, 202416
- Net domestic migration, 2024-45
- Net international migration, 20242
- Total net migration, 2024-43
- Cumulative net domestic migration, 2021 to 2024-26
- Rank by growth among US county-equivalents2026th
The county has lost 0.52 percent of its population since the 2020 census base. Births exceeded deaths in 2024 but more people left than arrived, so the population is being sustained internally rather than attracting.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake County
Where people moving to Lake County come from
- Tax returns filed by households arriving380
- People arriving, from those returns634
- Adjusted gross income arriving$25.4 m
- Net adjusted gross income movement$0
- Average income of an arriving household$66,805
- Largest single originLake County Non-migrants (4,263 households)
- Largest single destination (4,263 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Lake County Non-migrants | 4,263 | 8,749 | $406.5 m |
| Other flows - Different State | 153 | 252 | $9.7 m |
| Other flows - Same State | 104 | 168 | $5.5 m |
| Minnehaha County | 100 | 175 | $8.0 m |
| Other flows - Midwest | 75 | 119 | $4.6 m |
| Other flows - West | 51 | 96 | $3.1 m |
| Other flows - South | 27 | 37 | $2.0 m |
| Lincoln County | 23 | 39 | $2.2 m |
The largest single source of arrivals is Lake County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Lake County
What the Lake County economy runs on
- County GDP, 2024$934.4 m
- County GDP, 2023$897.5 m
- GDP change, 2023 to 20244.1 percent
- GDP change over five years53.3 percent
- Rank by GDP among South Dakota counties14th
- Rank by GDP among US county-equivalents1896th
- GDP per resident$85,163
Output grew 4.1 percent in the latest year and 53.3 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Lake County
Who employs people in Lake County
- Covered employment, annual average5,221
- Establishments reporting492
- Average annual pay$56,802
- Average weekly wage$1,092
- Sector 31-33, employment1,014
- Sector 31-33, average annual pay$59,035
- Sector 62, employment610
- Sector 62, average annual pay$53,809
- Sector 72, employment525
- Sector 72, average annual pay$16,303
- Sector 44-45, employment449
- Sector 44-45, average annual pay$34,937
- Sector 23, employment252
- Sector 42, employment252
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 1,014 | 23 | $59,035 |
| Sector 62 | 610 | 31 | $53,809 |
| Sector 72 | 525 | 32 | $16,303 |
| Sector 44-45 | 449 | 41 | $34,937 |
| Sector 23 | 252 | 47 | $69,046 |
| Sector 42 | 252 | 42 | $92,230 |
| Sector 54 | 227 | 71 | $78,530 |
| Sector 52 | 180 | 35 | $98,178 |
The largest sector is the biggest private employer group at 1,014 jobs, 19.4 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake County
What businesses operate in Lake County
- Establishments, all industries339
- Employment at those establishments3,907
- Annual payroll$203.1 m
- Establishments per 1,000 residents30.9
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Lake County
What is being built in Lake County
- Housing units authorised by permit, 202430
- Declared construction value permitted$11.8 m
- Single family units authorised28
- Multifamily units authorised2
- Multifamily share of units6.7 percent
- Average declared value per unit$394,614
- Units authorised per 1,000 households6.4
Multifamily is 6.7 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake County
How much SBA lending happens in Lake County
- 7(a) approvals recorded3
- 7(a) gross approval dollars$563,500
- Average 7(a) approval$187,833
- Median 7(a) approval$250,000
- 10th percentile approval$10,000
- 90th percentile approval$303,500
- Largest single approval$303,500
- Jobs reported supported, 7(a)33
- Jobs per approval11.0
- Distinct 7(a) lenders active3
- Distinct industries receiving approvals3
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer33.3 percent
- Loans on real estate terms1
- Loans on working capital terms, 120 months or shorter2
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countPlumbing, Heating, and Air-Conditioning Contractors (1)
- Most active lenderFirst Bank & Trust (1)
- 504 approvals recorded12
- 504 gross approval dollars$10.1 m
- Average 504 approval$844,250
- Median 504 approval$682,000
- Distinct CDCs active3
- 504 jobs per approval8.9
- 504 jobs per million dollars approved10.6
- Most active CDCAlly Dakota Development, Inc. (5)
- 7(a) share of SBA approvals20.0 percent
- Combined SBA approval dollars$10.7 m
The average approval of $187,833 sits close to the median of $250,000, so lending here is fairly evenly sized rather than driven by a few large deals. 33.3 percent of approvals run on real estate terms of 240 months or more, so this is a market where SBA credit is buying buildings, not just funding operations.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Lake County
Do SBA loans in Lake County get paid back
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Paid in full1
- Status: Exempt from disclosure1
- Status: Cancelled1
Too few loans have reached a final outcome to publish a charge off rate. only 1 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
How big is Lake County
- Land area563 sq mi
- Rank by land area among South Dakota counties56th of 66
- Width, east to west23.9 mi
- Height, north to south24 mi
- Geographies sharing a boundary6
- Residents per square mile of land19
- Establishments per square mile0.60
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Lake County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Lake County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population10,972
- Households4,716
- Average household size2.33
- Median household income$76,808
- Median age43.8
Common questions
Lake County questions, answered from the record.
How many people live in Lake County, South Dakota?
10,972, in 4,716 households, ranking 16th of 66 South Dakota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lake County growing?
The population has fallen 0.52 percent since the 2020 census base. In 2024 there were 113 births against 97 deaths, with net migration of -43. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lake County?
$76,808. The median owner-occupied home is valued at $247,600, which is 3.2 times income, and median gross rent is $947 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Lake County?
339 establishments, employing 3,907 people with an annual payroll of $203.1 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Lake County?
Average annual pay is $56,802, or $1,092 a week, across 5,221 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lake County?
3 7(a) approvals totalling $563,500 since FY2020, across 3 lenders, with a median approval of $250,000, plus 12 504 approvals worth $10.1 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Lake County?
30 housing units were authorised by permit in 2024, with a declared construction value of $11.8 m. Multifamily was 6.7 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lake County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Lake County come from?
The largest single origin is Lake County Non-migrants, with 4,263 households. Arriving households report an average income of $66,805 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Lake County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Lake County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.