Personal loans in Salem, SD

Salem by the numbers

Set out below is Salem's local context next to the state-level rules that reach every lender here.

• Population: a Census-estimated 1,335, 46th among South Dakota's 309 places (Vintage 2023).
• Population trend: Stable from the 2020 base to 2023.
• Size percentile: with 1,335 residents, Salem is larger than about 85% of South Dakota's Census places.
• Population density: about 1,068 people per square mile (Census land area 1.2 sq mi).
• Land area: Salem covers 1.2 square miles, the 83rd-largest area among South Dakota's 309 places.
• Within South Dakota: about 0.2% of the state's population lives in Salem.
• National rank: Salem sits 9,153rd by population among the 19,457 places in this dataset.
• Growth rank: Salem ranks 134th among South Dakota's 309 places for the 2020-to-2023 change.
• Against the state trend: Salem's 0.0% change compares with a South Dakota average of +0.9% across its 309 places.
• Density rank: Salem is the 62nd most densely settled place in South Dakota.
• Density in context: Salem's 1,068 people per square mile sit against a South Dakota median of 581.
• Location: coordinates 43.7228, -97.3893 (US Census Bureau Gazetteer).
• Nearest larger cities: Hartford (24 mi); Madison (24 mi); Crooks (29 mi); Mitchell (33 mi); Tea (34 mi). For most borrowers the comparison happens online, not at a branch.
• Smaller communities close by: Canistota (10 mi); Spencer (10 mi); Montrose (10 mi), each with its own Census population profile.
• Within a 50-mile radius: 55 smaller Census places.
• Within 100 miles: 48 places are larger than Salem.

The anatomy of a Salem personal loan

With roughly 1,335 residents, Salem is a small community; its personal loans are typically unsecured, priced from your credit rather than the city's size. Because pricing is borrower-level, two people in Salem can be quoted different APRs on the same amount and term. The term you choose in Salem decides the split between a comfortable payment and the total interest you pay.

A pre-application checklist for Salem

Complete these steps first when you borrow in Salem (1,335 residents):

1. Pull your credit reports first and correct any error before a lender sees the file.
2. Price the payment first with our personal loan calculator before any lender quotes you.
3. Get several pre-qualifications and compare APR side by side before choosing.
4. Verify the lender's South Dakota licence with the regulator listed on this page.
5. Borrow only what the purpose requires, not the maximum you are offered.
6. Be clear on what the loan is for and how it gets repaid.
7. If the balances are already a strain, seek nonprofit credit counselling before adding a loan.

In Salem as elsewhere in South Dakota, the written terms — not the advertisement — are what count for its 1,335 residents.

The geography behind Salem

The Census Gazetteer records about 1.2 square miles of land within Salem, with no significant water area listed. With 1,335 residents, the land area yields roughly 1,068 people per square mile. Sioux Falls, the largest place in South Dakota, is about 35 miles from Salem. Within 50 miles of Salem there are 14 larger Census places. By land area it ranks 83rd of 309 South Dakota places.

What South Dakota law requires in Salem

This table holds the South Dakota rate and licensing rules for consumer loans made to Salem's 1,335 residents.

Salem's place among South Dakota's 309 places

Among South Dakota's 309 places, Salem sits at 46th for population, a share of roughly 0.2% of the state. Its 2020-to-2023 change ranks 134th of 309 South Dakota places, putting it near the 57th percentile for growth. By density, at about 1,068 people per square mile, it ranks 62nd in South Dakota. In land area, Salem ranks 83rd among South Dakota's 309 places.