Dyckia consimilis occurs in Campos Rupestris in Cadeia do Espinhaco, in Minas Gerais. In PESRM, D. consimilis is saxicolous in Campo Ferruginoso Couracado and in the Campo Rupestre Quartzitico, forming small clumps, where it exposes its rhizomes. Species like D. macedoi L. B. Smith, D. saxatilis Mez (see comment of same) and D. schwackeana Mez. Differs from D. schwackeana, which is close, by having leaf blades ferrugineous lepidote (vs. cinereous lepidote),scape bracts shorter than the internodes and fimbriate (vs. bigger and serrate) and stamens 5-6 mm connate above the petal-stamen ring (vs. 2 mm above). From D. macedoi it differs by having leaf blades ferrugineous lepidote (vs. cinereous lepidote),scape bracts with fimbriate margins (vs. serrated) and stamens 16 mm connate above the petal-stamen ring (vs. free).
The species is cited in the Revision of the lists of Species of Flora and Fauna Ameacadas de Extincao for the State of Minas Gerais as Data Deficient (DD).