HomeSouth DakotaLake County
Lake County, South Dakota: commercial real estate data.
Lake County, South Dakota had an estimated 11,006 residents on July 1, 2024, down 0.5 percent since the 2020 census base of 11,064, across 563 square miles. County output reached $934.4 m in 2024, 339 establishments operate here, and the SBA record carries 3 7(a) approvals worth $563,500 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lake County
How many people live in Lake County
- Population, American Community Survey 2020-202410,972
- 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-equivalents, Puerto Rico included2418th of 3,222
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 moderately unaffordable 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 story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lake County
Is Lake County's population growing?
- Population, July 1, 202411,006
- Census 2020 base population11,064
- Population change since the 2020 census base-0.52 percent
- Population change, 2023 to 2024-27
- 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 of 3,144
The county has lost 0.52 percent of its population since the 2020 census base. More people left than moved in during 2024 and births over deaths did not make up the difference, so the population fell.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake County
Where are people moving to Lake County from?
- Tax returns filed by households arriving380
- People arriving, from those returns634
- Tax returns filed by households leaving330
- Net household movement50
- Adjusted gross income arriving$25.4 m
- Net adjusted gross income movement$4.9 m
- Average income of an arriving household$66,805
- Average income of a leaving household$62,033
- Largest single originMinnehaha County (100 households)
- Largest single destinationMinnehaha County (79 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Minnehaha County | 100 | 175 | $8.0 m |
| Lincoln County | 23 | 39 | $2.2 m |
Households arriving report $4,772 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Minnehaha County, 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 is the Lake County economy?
- 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 the South Dakota areas BEA publishes14th of 66
- Rank by GDP among the US county areas BEA publishes1896th of 3,127
- 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
Employment by industry in Lake County
- Covered employment, annual average5,221
- Establishments reporting492
- Average annual pay$56,802
- Average weekly wage$1,092
- Manufacturing, employment1,014
- Manufacturing, average annual pay$59,035
- Health care and social assistance, employment610
- Health care and social assistance, average annual pay$53,809
- Accommodation and food services, employment525
- Accommodation and food services, average annual pay$16,303
- Retail trade, employment449
- Retail trade, average annual pay$34,937
- Construction, employment252
- Wholesale trade, employment252
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 1,014 | 23 | $59,035 |
| Health care and social assistance | 610 | 31 | $53,809 |
| Accommodation and food services | 525 | 32 | $16,303 |
| Retail trade | 449 | 41 | $34,937 |
| Construction | 252 | 47 | $69,046 |
| Wholesale trade | 252 | 42 | $92,230 |
| Professional, scientific and technical services | 227 | 71 | $78,530 |
| Finance and insurance | 180 | 35 | $98,178 |
Manufacturing is the largest private sector at 1,014 jobs, 19.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Lake County
Building permits in Lake County
- Housing units authorized by permit, 202430
- Declared construction value permitted$11.8 m
- Single family units authorized28
- Multifamily units authorized2
- Multifamily share of units6.7 percent
- Average declared value per unit$394,614
- Units authorized per 1,000 households6.4
Single-family homes are 93.3 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake County
SBA loans in Lake County (7(a) and 504)
- 7(a) approvals recorded3
- 7(a) gross approval dollars$563,500
- Average 7(a) approval$187,833
- Median 7(a) approval$250,000
- 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
- 504 approvals recorded12
- 504 gross approval dollars$10.1 m
- Average 504 approval$844,250
- Median 504 approval$651,500
- Distinct CDCs active3
- 504 jobs per approval8.9
- 504 jobs per million dollars approved10.6
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$10.7 m
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
SBA loan default and charge-off rates in 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
Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
How large 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.
Lake County
Flood risk in Lake County
- Participation of the county's own NFIP community Lake County, unincorporated areasParticipating, community 460276
- Communities in the county in the NFIP Community Status Book5
- Of those, participating in the NFIP2
- NFIP participation rate40.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 8
- Communities carrying a CRS class1
- Radon levels in Lake County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Lake County (community 460276), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Lake County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 8, which carries a flood insurance premium discount for policies written in that community. 40.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-202410,972
- 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?
The Census Bureau estimates 11,006 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has fallen 0.52 percent since the 2020 census base of 11,064, to 11,006 on July 1, 2024. 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 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 employment by industry in Lake County?
Manufacturing is the largest private sector at 1,014 jobs, 19.4 percent of covered employment. Covered employment averages 5,221 jobs at an average annual pay of $56,802, or $1,092 a week. 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 totaling $563,500 since FY2020, across 3 lenders, with a median approval of $250,000, plus 12 504 approvals worth $10.1 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Lake County?
30 housing units were authorized 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 Minnehaha County, with 100 households. Arriving households report an average income of $66,805 against $62,033 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Lake County
Cities and places in Lake.
11 Census places lie wholly or partly in Lake County. 10 carry enough published place level data for a page of their own and are linked. The rest are named here and not linked, because the American Community Survey and the SBA record between them do not carry enough about them to write an honest page. A place existing is itself worth knowing, so nothing in the county is left out.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Madison | city | 6,094 | 3 | Wholly in this county |
| Lake Madison | CDP | 936 | None recorded | Wholly in this county |
| Ramona | town | 538 | None recorded | Wholly in this county |
| Brant Lake South | CDP | 211 | None recorded | Wholly in this county |
| Chester | CDP | 152 | None recorded | Wholly in this county |
| Wentworth | village | 138 | None recorded | Wholly in this county |
| Brant Lake | city | 63 | None recorded | Wholly in this county |
| Nunda | town | 40 | None recorded | Wholly in this county |
| Winfred | CDP | 34 | None recorded | Wholly in this county |
| Rustic Acres Colony | CDP | 30 | None recorded | Wholly in this county |
| Graceville Colony | CDP | 0 | None recorded | Wholly in this county |