South Dakota mortgage calculator
Estimate your monthly payment for a home in South Dakota, with property tax at the state average of 1.06% and home insurance included. Rates use the 7.4% national 30-year average from Freddie Mac (week of October 8, 2026).
Estimated monthly payment
- Loan amount
- $205,920
- Down payment
- $51,480
- Interest over 30 years
- $307,349
- Income needed (28% guideline)
- $74,527 a year
Estimate only. Mortgage insurance (PMI) is added when the down payment is under 20%. Real taxes, insurance and lender fees vary by property.
How this is calculated. Principal and interest use the standard fixed-rate loan formula. Property tax uses the South Dakota average effective rate: the median real estate tax paid divided by the median home value. Home insurance is a general estimate that you can change.
Sources: Freddie Mac mortgage rate survey, week of October 8, 2026; U.S. Census Bureau American Community Survey, 2020–2024. Updated October 2026. Full methodology.
What a typical home costs per month in South Dakota
A home valued at the South Dakota median of $257,400 (the Census Bureau's figure for owner-occupied homes), bought with 20% down at 7.4% over 30 years, comes to about $1,739 a month. That is $1,426 in principal and interest, $227 in property tax and $86 in insurance.
Over a year that is 27.8% of the state's median household income of $75,081. Keeping housing costs near 28% of gross income would take a household income of about $74,527.
Property tax in South Dakota
South Dakota has the 18th highest effective property tax rate of the 50 states at 1.06%, above the typical state rate of 0.80%. The median South Dakota homeowner pays $2,724 a year.
| Home price | Tax per year | Tax per month |
|---|---|---|
| $200,000 | $2,117 | $176 |
| $300,000 | $3,175 | $265 |
| $400,000 | $4,233 | $353 |
| $500,000 | $5,291 | $441 |
| $750,000 | $7,937 | $661 |
These figures apply the statewide average rate. Rates differ between counties and taxing districts, and some homes qualify for exemptions.
States with similar property tax rates
- Rhode Island1.21% (15th highest)
- Alaska1.11% (16th highest)
- Massachusetts1.07% (17th highest)
- Maine1.02% (19th highest)
- Minnesota1.02% (20th highest)
- North Dakota0.99% (21st highest)
Questions about South Dakota mortgage payments
What is the property tax rate in South Dakota?
The average effective property tax rate in South Dakota is 1.06%. Census Bureau data shows homeowners paid a median of $2,724 a year on homes with a median value of $257,400. Your own rate depends on your county, city and school district.
How much is the monthly mortgage payment on a median-value home in South Dakota?
About $1,739 a month including property tax and insurance, assuming 20% down at 7.4% on a 30-year loan. Principal and interest alone come to $1,426.
How much income do I need to buy a home in South Dakota?
A common guideline keeps housing costs under 28% of gross income. For the median-value home above, that works out to about $74,527 a year. Lenders also look at debts, credit score and savings, so your own number may differ.
Does this calculator include property tax and insurance?
Yes. It adds property tax at 1.06% of the home price and home insurance at 0.4% of the home price as a starting estimate. Change either number to match a real quote. Mortgage insurance is added automatically when the down payment is under 20%.
Last updated October 2026. See the methodology for sources and limits.