Calculate Your South Dakota Mortgage Payment
Our calculator is pre-filled with South Dakota's median home price and property tax rate. Adjust the numbers to match your situation.
Open Calculator with SD DefaultsMonthly Payment Breakdown for South Dakota
Here's what your monthly payment looks like on the median South Dakota home ($325,618) with 20% down at 6.67%, the current average 30-year rate:
Note: This estimate assumes 20% down payment ($65,124), no PMI. With less than 20% down, add $109-$217/month for PMI.
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South Dakota Property Taxes
South Dakota's effective property tax rate is 0.99%, which is above the national average of 0.89%. See how property taxes are calculated and how they compare across states.
Annual Property Tax on $325,618 Home
$3,224
($269/month escrowed)
No State Income Tax
South Dakota has no state income tax, which can offset higher property taxes and leave more money for your mortgage payment.
Buying a Home in South Dakota: Key Facts
- No state income tax, attracting retirees and remote workers
- Property tax rate of 0.99% is near national average
- Owner-occupied assessment limit caps annual increases at 3%
- Sioux Falls is fastest-growing city in the state
Mortgage Calculators for Nearby States
Comparing homes across state lines? Check property taxes and home prices in neighboring states:
South Dakota First-Time Homebuyer Programs
South Dakota has 18 homebuyer assistance programs that can help with down payment and closing costs.
SDHDA First-Time Homebuyer
Below-market rates with down payment assistance
Low-Interest MortgageSDHDA Down Payment Assistance
Up to 5% of loan as second mortgage
Deferred LoanGovernor's House Program
Affordable homes sold to income-qualified buyers
Affordable HousingEligibility requirements typically include income limits, credit score minimums (usually 620+), and homebuyer education courses. Visit DownPaymentResource.com to search for programs you may qualify for.
Major Cities in South Dakota
Home prices and property taxes can vary significantly by city. The median home value of $325,618 is a statewide estimate.
South Dakota Mortgage FAQ
What is the property tax rate in South Dakota?
The average effective property tax rate in South Dakota is 0.99%. On a $325,618 home, that's approximately $3,224 per year or $269 per month added to your mortgage payment.
What is the median home value in South Dakota?
The median home value in South Dakota is $325,618 as of 2026-06-01. Prices vary by location - Sioux Falls and Rapid City typically have higher prices than rural areas.
Are there first-time homebuyer programs in South Dakota?
Yes, South Dakota has 18 homebuyer assistance programs. Popular options include SDHDA First-Time Homebuyer, which offers below-market rates with down payment assistance.
How much do I need to buy a house in South Dakota?
For the median South Dakota home ($325,618), you'd need $65,124 for a 20% down payment, plus $9,769-$16,281 for closing costs. With down payment assistance, you could potentially buy with as little as $11,397 (3.5% FHA down payment).
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Calculate Your SD Mortgage Payment