South Dakota Mortgage Calculator 2026 — Monthly Payment Estimate | US Financial Calculators

Median South Dakota home ($280,000) — 20% down — 7% rate — 30yr

Component	Monthly	Annual
Principal & Interest	$1,490.28	$17,883
Property Tax (1.22%)	$284.67	$3,416
Homeowners Insurance	$150.00	$1,800
Total PITI	$1,924.94	$23,099

Total interest over 30yr: $312,500. PMI not included.

Monthly property tax on a $400,000 home by state

State	Avg Rate	Monthly/$400k
Alabama	0.41%	$136.67
Alaska	1.04%	$346.67
Arizona	0.62%	$206.67
Arkansas	0.62%	$206.67
California	0.76%	$253.33
Colorado	0.51%	$170.00
Connecticut	1.79%	$596.67
Delaware	0.57%	$190.00
Florida	0.89%	$296.67
Georgia	0.92%	$306.67
Hawaii	0.29%	$96.67
Idaho	0.69%	$230.00
Illinois	2.23%	$743.33
Indiana	0.85%	$283.33
Iowa	1.57%	$523.33
Kansas	1.41%	$470.00
Kentucky	0.86%	$286.67
Louisiana	0.55%	$183.33
Maine	1.09%	$363.33
Maryland	1.09%	$363.33
Massachusetts	1.14%	$380.00
Michigan	1.54%	$513.33
Minnesota	1.12%	$373.33
Mississippi	0.81%	$270.00
Missouri	1.01%	$336.67
Montana	0.84%	$280.00
Nebraska	1.73%	$576.67
Nevada	0.55%	$183.33
New Hampshire	1.93%	$643.33
New Jersey	2.23%	$743.33
New Mexico	0.80%	$266.67
New York	1.72%	$573.33
North Carolina	0.80%	$266.67
North Dakota	0.98%	$326.67
Ohio	1.53%	$510.00
Oklahoma	0.88%	$293.33
Oregon	0.87%	$290.00
Pennsylvania	1.49%	$496.67
Rhode Island	1.53%	$510.00
South Carolina	0.57%	$190.00
South Dakota ★	1.22%	$406.67
Tennessee	0.67%	$223.33
Texas	1.60%	$533.33
Utah	0.52%	$173.33
Vermont	1.83%	$610.00
Virginia	0.87%	$290.00
Washington	0.98%	$326.67
Washington DC	0.55%	$183.33
West Virginia	0.59%	$196.67
Wisconsin	1.76%	$586.67
Wyoming	0.61%	$203.33

South Dakota has a moderate property tax rate of 1.22%. Rapid City and the Black Hills region have seen home price appreciation from retirees and remote workers. South Dakota has no estate tax and favorable trust laws, making it attractive for wealth management. Sioux Falls is the largest city with a growing tech and financial services sector.

Median home price: $280,000. Average property tax: 1.22%. Cost of living index: 99 (US avg = 100).

What is the average property tax rate in South Dakota?

The average effective property tax rate in South Dakota is 1.22%. This means on a $280,000 home, you would pay approximately $3,416/year ($284.67/month) in property taxes. Note that actual property taxes are based on the county-assessed value, which may differ from the purchase price, and individual rates vary by county.

How much do I need to earn to afford a home in South Dakota?

At the South Dakota median home price of $280,000 with 20% down and a 7% rate, total monthly housing costs (PITI) are approximately $1,924.94. Using the 28% housing-to-income rule, you would need a gross monthly income of about $6,874.80, or $82,498/year. With less down payment or higher home price, the required income increases.

Is South Dakota a community property state?

South Dakota is a common law (equitable distribution) state. Spouses can own property separately, and lenders typically evaluate only the borrower(s) named on the mortgage application.

Should I get a 15-year or 30-year mortgage?

A 30-year mortgage has lower monthly payments but you pay significantly more interest over time. For example, on a $224,000 loan at 7%, monthly P&I is $1,490.28 (30yr) vs. $2,013.38 (15yr). Choose 30-year if cash flow is tight; choose 15-year if you can comfortably afford the higher payment.

What other costs should I budget for when buying in South Dakota?

Beyond the mortgage payment, budget for: (1) Closing costs — typically 2–5% of the loan amount at purchase; (2) Home inspection — $300–$600; (3) Property taxes — $3,416/year at South Dakota average rates on a $280,000 home; (4) Homeowners insurance — $1,200–$2,400/year; (5) HOA fees if applicable; (6) Maintenance reserve — budget 1–2% of home value annually.

South Dakota Mortgage Calculator (2026)

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