2026 data · 1.15% property tax · Median home $231,600
South Dakota Mortgage Calculator
A median-priced home in South Dakota ($231,600) costs roughly $1,605 per month all-in (PITI), assuming 20% down and a 30-year fixed at 7.0%. South Dakota's effective property tax rate is 1.15% — close to the US average of about 1.0%.
South Dakota median-home monthly payment
$1,605/mo
P&I $1,233 · Tax $222 · Insurance $151
@ $231,600 price, 20% down, 30-yr fixed at 7.0%
For a custom calculation with your specific numbers (different down payment, rate, term, or home price), use the main mortgage calculator — it includes a full amortization schedule.
Monthly payments at common home prices in South Dakota
| Home price | 20% down | P&I | Prop tax | Insurance | Total PITI/mo |
|---|---|---|---|---|---|
| $200,000 | $40,000 | $1,064 | $192 | $130 | $1,386 |
| $231,600 (state median) | $46,320 | $1,233 | $222 | $151 | $1,605 |
| $300,000 | $60,000 | $1,597 | $288 | $195 | $2,079 |
| $400,000 | $80,000 | $2,129 | $383 | $260 | $2,772 |
| $500,000 | $100,000 | $2,661 | $479 | $325 | $3,465 |
| $750,000 | $150,000 | $3,992 | $719 | $488 | $5,198 |
Calculations use South Dakota's 1.15% effective property tax rate, estimated homeowners insurance at 0.78%/year of home value, 30-year fixed at 7.0%, no PMI (20% down). Closing costs not included.
South Dakota property tax
Effective rate
1.15%
Median home value
$231,600
Median property tax
$2,690/yr
South Dakota has above-average property tax rates but no state income tax. Property tax relief program for low-income seniors. Homestead exemption ($30,000) available for senior/disabled.
See our property tax calculator for a state-by-state property tax breakdown, and our South Dakota paycheck calculator to estimate take-home pay against this monthly housing cost.
South Dakota vs neighboring states
| State | Property tax rate | Median home | Median tax/yr | |
|---|---|---|---|---|
| South Dakota (this page) | 1.15% | $231,600 | $2,690 | |
| North Dakota | 0.94% | $228,700 | $2,130 | North Dakota mortgage → |
| Minnesota | 1.01% | $299,600 | $3,024 | Minnesota mortgage → |
| Iowa | 1.40% | $185,100 | $2,650 | Iowa mortgage → |
| Nebraska | 1.57% | $210,100 | $3,340 | Nebraska mortgage → |
FAQs about South Dakota mortgages
What is the property tax rate in South Dakota?
South Dakota's effective property tax rate is 1.15%, meaning the average homeowner pays roughly 1.15% of their home's value in property tax annually. On a $231,600 home (the state median), that's about $2,690 per year, or $224 per month added to your mortgage payment.
What is the average monthly mortgage payment in South Dakota?
For a home at South Dakota's median value of $231,600, assuming 20% down, a 30-year fixed mortgage at 7.0%, and South Dakota's 1.15% property tax + estimated insurance, the typical monthly PITI payment is approximately $1,605. This includes $1,233 principal & interest, $222 property tax, and $151 homeowners insurance.
How much income do I need to buy a house in South Dakota?
Using the standard 28% front-end DTI rule, you'd need annual income of approximately $68,786 to comfortably afford South Dakota's median-priced home. Lenders typically allow up to 43% total DTI (including all debts), which corresponds to about $44,791 annual income at the maximum end. Your specific qualification depends on credit score, down payment, debts, and lender requirements.
Is South Dakota a good state to buy a house?
South Dakota's combination of 1.15% property tax (near the national average of ~1.0%) and median home value of $231,600 make it one of the more affordable states for homeowners. South Dakota has above-average property tax rates but no state income tax.
How does South Dakota property tax compare to neighboring states?
South Dakota's 1.15% rate compares to: North Dakota at 0.94%, Minnesota at 1.01%, Iowa at 1.40%, Nebraska at 1.57%. Property taxes can differ substantially between bordering states — moving 30 miles across a state line can change your annual tax bill by thousands.
Does South Dakota have a homestead exemption?
South Dakota has above-average property tax rates but no state income tax. Property tax relief program for low-income seniors. Homestead exemption ($30,000) available for senior/disabled.
What's included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four standard components of a mortgage payment. For your South Dakota mortgage, the breakdown on a median-priced home would be: Principal & Interest $1,233, Property Tax $222, Homeowners Insurance $151. Add PMI if your down payment is under 20%, and HOA fees if your home is in a community with one.